Our January 2024 update on what’s happening in the Citation Mustang preowned sales market;
The mighty Mustang continued to enjoy strong listing activity and sales through the end of 2023. There are 472 Citation Mustangs in operation today, and as of January 8, 2024, there were 36 available for sale which is 7.6% of the fleet. This is down slightly from last month when there were 42 available for sale, or 8.9% of the fleet.
Looking at the Citation Mustangs that are currently listed for sale, they have been available on the market for an average of 178 days, which is mostly unchanged since last month when the average was 181 days. The other metric we follow is the average asking price of aircraft available for sale. Currently, the average ask price of a Citation Mustang on the market is $1.87 Million, which is down from last month when it was $2 Million. With listing activity and ask prices coming down slightly, we are seeing this very popular aircraft market starting to normalize after a busy Q4 of 2023.
Transitioning now to Citation Mustang sales figures, over the last six months it took an average of 125 days for a Mustang to sell once being listed. This is up from last month when the rolling six-month average was 100 days. The average sold price of a Citation Mustang over the last six months is $2.05 Million, which is up from $1.99 last month. In fact, the average sold price rose each month since August which shows that Citation Mustang sales were strong through Q4 2023. There were eight Mustangs sold in December, and 29 total sales over the last six months.
In 2023, the aviation industry experienced a remarkable surge in aircraft sales. The year witnessed a substantial rise in the number of listings, and corresponding transactions flourished. As we embark on a new year, the significance of collaborating with a proficient and informed aircraft broker cannot be overstated. It is crucial to have your interests aptly advocated for in this dynamic market.
An array of exceptional aircraft are currently available for purchase, with eager buyers seeking opportunities. For a seamless experience, consider reaching out to The Jet Agent. Our team is well-equipped to leverage our resources on your behalf, regardless of whether you are a buyer or seller in the transaction.