Citation CJ3+ Market Update February 2024

February 2024 CJ3+ Update

Our February 2024 update on what’s happening in the Citation CJ3+ preowned sales market;

Thanks to 5 new deliveries from the manufacturer, the Citation CJ3+ fleet grew again this month, up to 261 aircraft in operation today. As of February 7, 2024, 9 CJ3+ aircraft are currently for sale (3.4% of the fleet), an increase of 2 aircraft from previous month when there were 7 Citation CJ3+ aircraft, or 2.7% of the fleet, available for sale.

There are a few important metrics we follow when studying aircraft markets. One is the average time on market, for both aircraft currently listed for sale as well as aircraft sold over the last six months. For Citation CJ3+ aircraft currently for sale, they have spent an average of 114 days on the market to date. This is mostly unchanged from last month when the average was 115 days. The average days spent on the market for Citation CJ3+ aircraft sold in the last six months was 106 days, up just slightly from last month when the average was 100 days.

 

Another metric we study closely is pricing. We follow both asking prices of aircraft for sale, as well as sold prices of aircraft sold over the last six months. If you are in the market for a Citation CJ3+ today, you will see asking prices between $6,950,000 to just over $11,000,000.

 

In January, there were no CJ3+ sales, and over the last 6 months, 20 CJ3+s sold. Of those 20, they sold at prices between $7,300,000 and $10,700,000.

 

In January, we saw the typical slow-down of aircraft transactions following a busy yet relatively restrained Q4 in 2023. While transactions may have slowed in January, there are still great aircraft to choose from available on the market, as well as buyers looking to purchase. Finding a great deal in Q1 is possible, and working with a professional aircraft broker is your best option when it comes to sourcing your next aircraft. Contact The Jet Agent today and let us use our resources to help you find your next aircraft or find a buyer for your current aircraft!

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