Our November 2023 update on what’s happening in the Citation Mustang preowned sales market;
The Citation Mustang fleet remains unchanged with 472 aircraft in operation today. At the time of authoring this update, there are currently 33 for sale (7% of the fleet) which is up from last month when there were 26 for sale, or 5.5% of the fleet.
Sales of the Citation Mustang peaked in May this year with 13 being sold and slowed since then. However, with plenty of good options available for sale currently, we expect to see sales rise again through Q4. The average ask price for Citation Mustangs currently for sale is $2.05MM, and the average sold price of Mustangs sold in the last 6 months is $1.99MM.
Listing activity has been on the rise over the past few months, and the new listings are helping bring the average days on market down, 210 days today from 262 days in August. The average days on market for sold aircraft has also come down since August, from 119 days to 105 days.
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!