Our June 2023 update on what’s happening in the Citation CJ3+ preowned sales market;
3 more Citation CJ3+s were added to the fleet due to new factory deliveries in May. With a total fleet size currently at 242 aircraft, we saw May end with 3.7% of the fleet available for sale. The only Citation CJ3+s that were sold in May were factory deliveries – there were no pre-owned CJ3+ sales for the month.
CJ3+ listings and sales are trending downward, a trend that started in December. As we have conducted our market updates the past few months (see our May 2023 report here and our April 2023 report here), we have seen the average asking price increase roughly $400k to $8.64 million for the CJ3+ and we have also seen the average sold price drop roughly $400k to $8.24 million. With the “days on market” statistic holding steady around 90-100 days, this pricing is likely a sign of sellers still wanting top dollar for their aircraft as they bring it to market. We have, however, seen some sellers willing to adjust their price to make a deal as the aircraft begins to age on the market.
Citation CJ3+ buyers need the assistance of an acquisition consultant to help unlock additional aircraft options through off-market channels to ensure they receive the best value possible in this tight market.