Citation Encore Market Update February 2024

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

There are currently 159 Citation Encores in operation today, and of those 159 there are 7 for sale, representing 4.4% of the fleet. This is up just slightly from last month when 6 were for sale, or 3.8% of the fleet. While this is one of the older fleets we follow, sale activity has remained steady, proving the Citation Encore is still a favorite among owners and operators.

The Citation Encore market is bifurcated into two segments.  The first segment is for the core of the for-sale aircraft and includes Encores that have less than 10,000 hours and are desirable for either their engine program status, low airframe/engine time, or overall pedigree.  The second segment consists of +10,000 hour airframes, run out engines, less desirable aircraft or those with storied pasts.  Parts companies and other wholesale buyers often look to these second-segment aircraft for a deal, or an opportunity to use the aircraft for parts for their existing fleet needs.

Of the 10 Encores sold over the last six months, 8 were first segment Encores and 2 were second segment. 2 Citation Encores sold in January (both first segment), no change from December. Considering that 3 was the most Encores sold in a month in 2023, this is a strong figure for two months in a row.

Let’s look first at “first segment” Encores. The 9 first segment Encores sold averaged 110 days on the market and ranged in sold price from $2,800,000 to $4,500,000.  Of the 7 Citation Encores currently for sale, 4 fall into the first segment. Those 4 Encores have spent an average of 84 days on the market. 

Looking at the first segment of Citation Encores that are currently for sale, they range in asking price from $3,495,000 to $4,395,000.

In the second segment category, only two Encores sold over the last six months, spending an average of 55 days on market over that 6-month period.  Today, that days on market number has increased dramatically to 283 days. 

Encores in this category range in asking price from $2,395,000 to $3,500,000. Sold prices for the second segment Encores can be tricky to locate, but 1 of the 2 that sold over the last six months sold for around $2,700,000. Demand for the second segment Citation Encores has declined, in line with the decrease of interest we have seen across the board in older airframes as inventory overall has increased.

In January, we saw the typical slow-down of aircraft transactions following yet another busy 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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