Our November 2023 update on what’s happening in the Citation M2 preowned sales market;
Due to new deliveries from the manufacturer, the Citation M2 (and GEN2 variant) fleet grew from 349 aircraft to 353 aircraft since our last update last month. There are currently 25 available for sale (7.1%) which is down slightly from the previous month (September) when 27 Citation M2s were available for sale, or 7.7% of the fleet.
Regarding listing activity and sales activity, October was an interesting month. The listing activity and sold activity almost perfectly mirrored each other this month, as represented on the accompanying graphs. As listing activity grew, so did sales. The Citation M2 preowned market as always been an active market (meaning, there is transitory movement as buyers stay in the Citation M2 for a shorter period of time before moving into their next jet). So, while we’ve seen inventory numbers of 7 – 8% of the fleet being for sale in recent months, we’ve seen an equal amount of sales activity which continually flushes out the available inventory at any period in time.
The average asking price for the Citation M2s on the market today dropped slightly from our September update from $4.81MM to $4.63MM. The average sold price over the last 6 months remained mostly unchanged, from $4.74MM in our September update to $4.73 in this October update.
The currently listed Citation M2s have been on the market for an average of 122 days, which is down just slightly from last month, which had an average of 130 days. On the other hand, the average days on market for sold units rose slightly from 123 days in September to 142 days in October.
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!