Asking prices for preowned business jets are softening, dropping by 2.4% month over month and by 6.2% year over year (YOY) in November, according to market valuation analyst Sandhills Global. In its latest market report, Sandhills noted that prices decreased by nearly 5% YOY in October as well, but were slightly up from September by 1.8%.

“Inventory levels of used jets continue to climb,” said Brant Washburn, controller department manager for Sandhills, which owns products such as Aircraft Cost Calculator, AircraftEvaluation, Charter Hub, and Aviation Trader. “We’re also seeing inventory growth continuing in the used turboprop market. But while asking prices were up slightly in November for turboprops, asking prices of used jets took a more noticeable downward turn.”

In November, the global inventory of preowned business jets actually declined by 3.3% month over month but was still up 4.7% from a year earlier. Inventory of super-midsize jets has experienced the biggest jump, up 15.6% YOY and 5.5% month over month. Meanwhile, light-jet asking values declined the most from October, down 4.1%, and large jets saw the steepest YOY drop at 6.8%.

Looking at just the U.S. and Canada, turboprop inventory levels in November inched up by 0.7% from October, but are up by 9.2% YOY. Their asking values are down by 1.2% from a year earlier.