Our October 2023 update on what’s happening in the Citation CJ1+ preowned sales market;
In the smallest Citation market that we currently track, the Citation CJ1+ fleet size remained unchanged in September at 100 total aircraft. At the time of this update, there are currently 9 for sale, 9% of the fleet.
Both the average asking price and average sold price are down slightly since our last update. The average asking price is currently $2.77 Million, down from $2.80 Million, and the average sold price is currently $2.71 Million, down from $2.83 Million. There were no Citation CJ1+s sold in July or August, but 2 sales were reported in September, and 6 have sold total since April.
Since there aren’t many Citation CJ1+s in the fleet, they do not transact as often. This leads to a higher average time on market. Currently, the Citation CJ1+s available for sale have been on the market for an average of 273 days, while sold aircraft spent an average of 148 days on the market before selling.
As we enter Q4, the busiest season in pre-owned business aircraft sales, it is more important than ever to work with a professional and ethical aircraft broker. From negotiating contracts, to helping find the perfect aircraft for you, (whether on-market or off-market) using the right aircraft broker can make all the difference in your experience.