Our November 2023 update on what’s happening in the Citation CJ4 preowned sales market;
Due to new deliveries from the manufacturer, the Citation CJ4 (and GEN2 variant) fleet grew from 414 aircraft to 419 aircraft since our October 2023 update. There are currently 21 CJ4s available for sale (5% of the Citation CJ4 fleet), which is up slightly from last month when 18 CJ4s were available for sale, or 4.3% of the fleet.
Listing activity in general was on an upward trend until September, which peaked at 26 CJ4s available for sale. Sales have not followed much of a trend since May; however, they peaked in September as well with 7 changing ownership. The average asking price is down slightly since last month to $8.99MM and the average sold price of Citation CJ4s transacting in the last 6 months is $9.6MM thanks to a few GEN2 variants selling, which fetch a higher selling price.
As more Citation CJ4s have entered the market for sale and sales keep occurring, both the average time on market for available units and sold units have stayed essentially the same since our September update. Current listings have spent an average of 130 days on market (131 last month) and sold units the last 6 months spent an average of 93 days on market (91 last month).
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!