Our July 2024 update on what’s happening in the Citation CJ1+ preowned sales market;
The smallest fleet in the Citation CJ family is the CJ1+, comprising 100 aircraft in operation today. Of these, 8 are currently for sale, representing 8% of the total fleet. This is a decrease from last month when 9 aircraft were for sale, or 9% of the fleet.
The 8 Citation CJ1+s currently for sale have been on the market for an average of 229 days, up from 181 days last month. The CJ1+ that sold in June was a newer listing with fewer days on the market, which increased the average days on market once it was sold and removed from the calculation. The remaining available CJ1+s range in asking price from $2,400,000 to approximately $3,000,000.
Regarding sales data for Citation CJ1+s, one CJ1+ was sold in June, and nine have been sold over the last six months. Two of these sales were handled off-market, never being advertised to the public. The publicly listed options spent an average of 247 days on the market before selling, mostly unchanged from last month’s average of 248 days. The CJ1+s that have sold over the past six months range in sold price from $2,350,000 to roughly $3,050,000, which aligns with the current list prices, indicating that the value of a Citation CJ1+ is well understood by both buyers and sellers.
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
