The Citation Latitude market enters August following its strongest sales month of the six-month period, although available inventory has also begun to increase. July recorded three transactions after several months of very limited activity, providing an encouraging change in pace. Even with the recent inventory growth, just 2.1% of the fleet is currently available, keeping overall supply relatively limited.
Fleet Size and Availability
There are currently 10 Citation Latitudes available for sale, representing 2.1% of the fleet.
Inventory remained exceptionally tight through the spring, with six aircraft available in February and March before dropping to five in April. Supply then began to build, increasing to six aircraft in May and eight in both June and July. Current availability of 10 aircraft indicates that additional inventory has entered the market since the July reporting period.
While the upward trend is worth monitoring, 2.1% fleet availability remains low in absolute terms and provides buyers with a relatively limited selection.
Market Listings
Current asking prices range from $12.495 million to $22.5 million, while the six-month sold-price range is $12.5 million to $21.2 million.
The broad pricing range reflects the differences in age, total time, maintenance status, condition, and specification across the Latitude fleet. With relatively few aircraft available, individual aircraft characteristics can have a significant impact on both asking prices and transaction values.
Current listings average just 39 days on market, substantially below the 153-day average for aircraft sold during the past six months. This is an important distinction, as much of today’s inventory appears relatively fresh rather than consisting primarily of long-standing listings.
Sales Activity
A total of 5 Citation Latitudes have sold during the past six months, representing 1.1% of the fleet.
Transaction activity was limited for much of the period. February recorded no sales, followed by one transaction in March and another in April. No aircraft sold in May or June before activity accelerated significantly with three transactions in July.
July therefore accounted for 60% of all Latitude sales recorded during the six-month period, making the recent increase particularly notable after a quiet spring and early summer.
What This Means For You
If you own a Latitude and have been on the fence about selling, July’s activity is worth paying attention to. Three transactions in one month after a quiet spring suggests buyers are still there, they just had not found the right aircraft. With inventory doubling from its April low and asking prices extending above the recent sold range, positioning is going to matter more heading into fall than it did earlier this year. Fresh, well-priced aircraft are moving in 39 days. Everything else is not moving at all. If you are a buyer, inventory has doubled from its April low but five total sales over six months tells you this market moves slowly. When the right aircraft comes up, waiting to see if something better appears is a real risk.
