Our August 2024 update on what’s happening in the Citation CJ3+ preowned sales market;
The Citation CJ3+ fleet grew to 279 aircraft due to two manufacturer deliveries in July. Of those, there are 17 available for sale as of August 1, 2024, constituting 6.1% of the fleet. This is an increase of one additional Citation CJ3+ for sale since July, when there were 16 available for sale, or 5.8% of the fleet.
The 17 Citation CJ3+s for sale have been on the market for an average of 117 days as of August 1, 2024, up slightly from last month when the average was 109 days. The CJ3+s for sale today range in ask price from $7,295,000 to $12,000,000.
2 Citation CJ3+s sold in July, and 15 have sold over the last six months. Only 2 of those were off-market sales, never having been advertised to the public. The Citation CJ3+s that were publicly advertised spent an average of 116 days on market before trading, which is mostly unchanged from last month when the average was 114 days. The 15 CJ3+s sold over the last six months range in sold price from $6,500,000 to $11,250,000.
As a buyer representative, we find there is pent-up demand in the earlier serial number range of Citation CJ3+ aircraft that are based in the US and can be purchased for less than $7,500,000. Sellers of earlier serial number aircraft will find they can best optimize their sales price by marketing the aircraft publicly to encourage competing offers.
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.
