Our March 2024 update on what’s happening in the Citation CJ1 preowned sales market;
There are 194 Citation CJ1s in operation today. As of March 11th, 2024, there were 11 CJ1s available for sale, which is 5.7% of the total fleet. This is down slightly from last month when there were 13 CJ1s available for sale, or 6.7% of the fleet. 11 CJ1s for sale is the lowest number of CJ1s for sale since July 2023 when there were 10 available for sale.
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There are a couple important figures we follow when studying the pre-owned aircraft markets. First, we will look at the average time on market. We follow time on market for both aircraft currently listed for sale, as well as the aircraft that have sold over the last six months. Of the 11 Citation CJ1s listed for sale, they have spent an average of 222 days on market, up from 178 days last month. As for the CJ1s that have sold over the last six months, they spent an average of 113 days on market before selling, which is also up a little from last month when the average was 96 days.
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The other important figure we track is pricing, to see how the market is trending and how the aircraft are holding their value. We look at asking prices as well as a rolling six-month snapshot of sold prices. For the Citation CJ1s currently for sale, they range in asking price from $1,500,000 to $2,150,000. There were 2 Citation CJ1s sold in February, and 11 over the last six months. Of those 11 that sold, their sold prices ranged from $1,300,000 to $2,450,000.
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