Our March 2024 update on what’s happening in the Citation CJ1+ preowned sales market;
The Citation CJ1+ is the smallest fleet that we track with only 100 aircraft in operation today. Of those 100 CJ1+s, 9 are currently for sale, or 9% of the fleet. This is up from last month, when there were 7 (7%) available for sale. It may be a small fleet, but listings and sales in this market are always occurring.
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There are two important figures we look at when studying the pre-owned business aircraft markets. The first is time on market. We look at this for both the aircraft currently listed for sale, as well as aircraft that have sold over the last six months. Of the 9 Citation CJ1+s currently for sale, they have been on the market for an average of 241 days. This is down from last month when the average was 289 days. The other side of this is the average days on market for aircraft sold over the last six months. That average is currently 208 days, down 10 days from last month when the average was 218 days.
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The second important figure we follow is pricing. We follow both asking prices of aircraft listed for sale currently, as well as the sold prices of aircraft that have traded over the last six months. If you were shopping for a Citation CJ1+ today, you would see asking prices ranging from $2,400,000 to $2,900,000. There was 1 Citation CJ1+ that sold in February, and 12 have sold over the last six months. Of those twelve, their sold prices ranged from $2,400,000 to $2,895,000.
