Our January 2024 update on what’s happening in the Citation CJ1+ preowned sales market;
The Citation CJ1+ is the smallest fleet (in number of aircraft) in the Citation family of jets with 100 CJ1+s in operation today. Of those 100, there are 10 for sale (10% of the fleet) as of January 8, 2024. That is up one from last month when there were 9 for sale, or 9% of the fleet.
There have consistently been between 8 and 11 Citation CJ1+s available for sale since April of 2023, giving prospective buyers a good selection to choose from out of the small fleet. With that being said, the average days on market for Citation CJ1+s currently for sale is on the higher side at 253 days. Being a smaller fleet, there are fewer buyers and fewer transactions, causing the CJ1+ to spend more time on the market before selling. If you are in the market for a Citation CJ1+ today, you could expect to pay between $2,200,000 to $2,995,000 Million.
Also on the higher side is the average days spent on market for Citation CJ1+s that have sold in the last six months, which is 210 days. That is down slightly from last month when it was 221 days. Looking back at the last 6 months, the range of sold prices for Citation CJ1+s is $2,500,000 to $2,725,000. When the time on market for current listings and sold aircraft are close, as well as the range of asking prices and sold prices, it paints a good picture for us that both buyers and sellers agree on the value of a CJ1+, and the market has decided that it will take around 200 days to transact. There was one Citation CJ1+ sold in December, and 7 total over the last 6 months.
In 2023, the aviation industry experienced a remarkable surge in aircraft sales. The year witnessed a substantial rise in the number of listings, and corresponding transactions flourished. As we embark on a new year, the significance of collaborating with a proficient and informed aircraft broker cannot be overstated. It is crucial to have your interests aptly advocated for in this dynamic market.
An array of exceptional aircraft are currently available for purchase, with eager buyers seeking opportunities. For a seamless experience, consider reaching out to The Jet Agent. Our team is well-equipped to leverage our resources on your behalf, regardless of whether you are a buyer or seller in the transaction.