Our April 2023 update on what’s happening in the Citation Encore preowned sales market;
In the last two years, the Citation Encore market has enjoyed the highest preowned sale prices since 2007. The overall preowned light jet markets experienced its peak in August 2022. We are now slowly seeing an increase in aircraft listed for sale, across all markets, and for the first time in two years are starting to see price reductions on older airframes in certain fleet types.
The Encore market is still strong at this time, with only 2.2% of the fleet for sale, up slightly from an average of 1% over the last six months. However, the market is sending mixed signals with the average days on market (the time it takes for an aircraft to sell) slowly decreasing from an average of 110 days in Q4 2022 to now 98 days.
With this market having seen its peak, we expect downward pressure on pricing over the next several months as the frenzy of an optimistic market begins to cool and for pricing to start reflecting values closer to pre-COVID numbers over the next 12-18 months.
