Our October 2023 update on what’s happening in the Citation Mustang preowned sales market;
The Citation Mustang remains one of the most popular very light jets ever produced. The current fleet size is 472 aircraft, with 26 for sale at the time this update was published. Up slightly from last month, that represents 5.5% of the total fleet available for sale.
The average asking price dropped slightly from $2.16 Million in August to $2.08 Million in September. During that same time frame, the average sold price rose slightly from $1.93 Million in August to $1.98 Million in September. This minimal spread between asking price and selling price is a great indication of the strength of the Citation Mustang market, with buyers and sellers agreeing on the price of the aircraft.
Mustangs currently on the market for sale are averaging 224 days on market. There is one aircraft for sale that has been listed for a very long time that is driving that average up, while most are spending less time on market before selling. The current average days on market for sold aircraft is at 116 days. 5 Citation Mustangs sold in September, with 38 selling since April.
As we enter Q4, the busiest season in pre-owned business aircraft sales, it is more important than ever to work with a professional and ethical aircraft broker. From negotiating contracts, to helping find the perfect aircraft for you, (whether on-market or off-market) using the right aircraft broker can make all the difference in your experience.