Our December 2023 update on what’s happening in the Citation M2 preowned sales market;
Thanks to five new deliveries from the manufacturer, the Citation M2 (and Gen2) fleet grew to 358 total aircraft in November. As of December 7th, 2023, there are twenty-six available for sale, or 7.3% of the fleet. This is up slightly from last month when there were twenty-five for sale, or 7.1% of the fleet. The Citation M2 family is growing every month thanks to multiple new deliveries, cementing this light jet as an industry favorite.
In November, five Citation M2s were sold and four Citation M2s were brought to the market. The average sold price of Citation M2s over the last six months dropped slightly to $4.4 million from $4.7 million in October. Our rolling six-month average of sold prices this month includes June through November, and May had a few M2s that had higher sold prices (newer models) and November had some older models sell at a slightly lower price, dropping the average this month. Two newer (Gen2) models were also listed for sale this month, causing the average asking price to rise slightly to $4.7 Million, from $4.6 Million in October.
Over the last six months, a Citation M2 (including the Gen2 variant) spent an average of 158 days on the market before selling. That figure is up from 142 days in October. The average days on market for the available fleet of Citation M2s for sale is also up slightly from last month. Currently, they have been available for an average of 133 days, up from 122 in October. While the days on market figure is growing slightly, the market is still very active and Citation M2s are selling. There are a few M2s available that have been on the market close to a year, mostly due to seller pricing that doesn’t reflect the reality of the current market, causing the averages to appear higher. Citation M2s that are well equipped and reasonably priced are transacting much quicker than the published averages.
Q4 2023 has been a whirlwind. As year-end approaches, there are still opportunities to find the perfect business aircraft for your needs. Working with a professional aircraft broker ensures a smooth transaction and timely results, as well as access to off-market aircraft that are not publicly advertised. Contact The Jet Agent today for a consultation with our professional Sales Directors and let us put our expertise and relationships to work for you in your search for your first or next aircraft.