Our November 2023 update on what’s happening in the Citation CJ1+ preowned sales market;
As the smallest Citation market we follow, the Citation CJ1+ has only 100 aircraft in service today, and as of the time of this publication there are 9 for sale (9%). This number has been relatively unchanged, with between 8 and 11 aircraft for sale at any given time since May.
Sales of Citation CJ1+s have been a bit more active lately, with 4 occurring in September and 2 in October. This is an increase over the prior months with no sales occurring in July or August. The average asking price of Citation CJ1+s on the market today is $2.71MM and the average sold price over the last 6 months is $2.68MM.
Since this is a smaller market, these aircraft typically take longer to sell than other models. With the increase in sales lately, the average days on market for aircraft currently for sale has gone down from 273 to 241 since our last update. And on the same note, as those units sell it increases the average days on market for sold units. We saw that increase from 148 to 200 since our last update.
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!