Our May 2024 update on what’s happening in the Citation CJ1+ preowned sales market;
There are 100 Citation CJ1+s in operation, and of those, 9 are currently for sale (9% of the fleet). This is up just 1 CJ1+ for sale since last month, when 8 were available for sale, or 8% of the fleet.
Of the 9 Citation CJ1+s available for sale, they have been on the market for sale for an average of 179 days so far, mostly unchanged from last month when the average was 181 days. The current CJ1+s for sale range in ask price from $2,400,000 to roughly $3,000,000. As this is a small market with less activity than others, that range of ask prices is also unchanged from last month.
Shifting now to the 8 CJ1+s that have sold over the last six months, they spent an average of 250 days on the market before selling, and range in sold price from $2,400,000 to $2,895,000. While the average time before selling is higher than most of the other fleets we follow, it is actually down 39 days since last month. That being said, we don’t anticipate seeing that average drop significantly any time soon as the available fleet for sale continues to age, and units selling lately sat on the market for quite a while before selling.
Each aircraft market is unique and full of intricacies that can be difficult to follow. As the markets shift, it is more important than ever to work with a professional aircraft broker who studies these markets daily and can make expert recommendations based on actual market data.
If you are interested in buying or selling an aircraft, or are just interested in learning more about the Citation markets, contact The Jet Agent today and let our team of experts share our knowledge with you.
