Our January 2024 update on what’s happening in the Citation CJ1 preowned sales market;
The Citation CJ1 family grew in December! No, not a new delivery. There was a deregistered aircraft that was brought back into service and upped the total size of the CJ1 fleet to 194 (from 193 in November). With that being said, as of January 8, 2024, there were 14 Citation CJ1s for sale, or 7.2% of the fleet. This is down slightly from last month, with 16 being for sale (8.3% of the fleet) on December 6, 2023.
With listing activity remaining steady from November to December, the average days on market for Citation CJ1s currently for sale rose from 150 days to 164 days. With the Citation CJ1s currently for sale, the range of ask prices was $1,500,000 to $2,200,000, offering buyers a range of equipment and total time options. As for sales, five Citation CJ1s changed ownership in December, up from two sales in November.
The average days a Citation CJ1 spent on the market before selling over the last six months was 93 days, which is up from last month when it was 57 days. For an older model like the Citation CJ1, 93 days is still a great statistic, proving that this aircraft can still sell in a relatively short timeframe. The range of sold prices for Citation CJ1s over the last 6 months is $1,300,000 to $2,250,000. Some of the sold values are coming in lower over the last few months, suggesting that the Citation CJ1 market may be softening a little bit.
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.