Citation Mustang Market Update February 2024

February 2024 Mustang Update

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

The Citation Mustang remains one of the busiest markets we follow, with constant new listings hitting the market, and plenty of sales activity as well. Currently, there are 472 Citation Mustangs in operation today, and 39 are for sale, which is 8.3% of the fleet. This is up slightly from last month when there were 36 for sale, or 7.6% of the fleet.

 

We track a couple different pieces of information when following the business aircraft market. One of the metrics we look at is time on market. We look at both the days on market of aircraft currently for sale, as well as how long an aircraft stayed on the market before selling. Looking at the 39 Citation Mustangs for sale currently, they have been on the market for an average of 183 days. That is up just a little from last month when that average was 178 days. Now, looking at Mustangs that have sold over the last six months, they spent an average of 110 days on the market, down slightly from the month before when the average was 125 days. There is a huge supply of Mustangs currently for sale, which is causing the available units to start to age on the market.

 

The other metric we follow is pricing. We closely follow asking prices of aircraft currently for sale, as well as sold prices of aircraft that have sold over the last six months. If you were looking to buy a Citation Mustang today, you would see asking prices range from $599,000 to $2,850,000. 2 Citation Mustangs sold in January, and 29 sold over the past six months. Of those 29 Mustangs, their sold prices range from roughly $1,100,000 to $2,750,000.

 

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!

Learn More About The Preowned Citation Jet Markets

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