Our November 2023 update on what’s happening in the Citation CJ1 preowned sales market;
There are 193 Citation CJ1s in service today, and as of the publication of this update there are 16 for sale (8.3% of the fleet). We have seen this number increase each month for the last 6 months starting at 2.6% available for sale in May.
While the number of available Citation CJ1s has been increasing, we have not seen the sales of CJ1s follow the same trend. They have generally been trending down since March when sales peaked at 4 transactions. The average list price of Citation CJ1s on the market is currently $2.03MM, which is down slightly since our last update ($2.08MM), and the average sold price dropped slightly as well to $1.87MM from $1.97MM last month.
The average days on market for Citation CJ1s currently for sale has remained mostly unchanged (126 days), and same with the average days on market for sold units (87 days). While sales aren’t occurring too often on these aircraft, they are still happening often enough to cycle units through the available inventory, and the addition of the new listings is keeping the days on market down for aircraft currently for sale.
During Q4, it is more important than ever to be working with an experienced and professional aircraft broker. Pre-buy inspection slots are hard to find, and the available slots are filling quickly. Working with a broker who has relationships within the industry helps keep your transaction moving forward and closing in a timely manner. Contact The Jet Agent today and let us help you with your first or next aircraft transaction!