Our March 2024 update on what’s happening in the Citation Mustang preowned sales market;
There are 472 Citation Mustangs in operation today, and 35 of those are currently for sale which is 7.4% of the fleet. This is down a few since last month, when there were 39 available for sale, or 8.3% of the fleet for sale. With constant sales and listing activity, the Citation Mustang remains one of the busiest pre-owned business aircraft markets that we follow.
We follow multiple data points when studying the pre-owned business aircraft markets. One of those data points is time on market. We look at both the days on market of aircraft currently listed for sale, as well as how long an aircraft was on the market before selling. Of the 35 Citation Mustangs currently for sale, they have been on the market for an average of 138 days, down quite a bit from last month when the average was 183 days. This is because a Mustang that was listed for sale for just over 4 years was officially withdrawn from the market in February, causing the average to adjust down to a more balanced number. As for the Citation Mustangs sold over the last six months, they spent an average of 107 days on the market before selling, virtually no change from last month when the average was 110 days.
The other primary data point we study while following pre-owned business aircraft markets is pricing. We follow both asking prices of aircraft currently for sale as well as sold prices of aircraft that have traded over the last six months. If you are shopping for a Citation Mustang today, you will see asking prices range from $599,000 to $2,850,000. There were 4 Mustangs that sold in February, and 29 over the last six months. Of those 29, the sold prices ranged from roughly $1,100,000 to $2,750,000.
