Our January 2024 update on what’s happening in the Citationjet 525 “CJ” preowned sales market;
The Citation Jet (CJ) fleet has 336 aircraft in operation today, and as of January 8, 2024, there were 30 available for sale, or 8.9% of the fleet. This is a 1.2% increase from the previous market update (December 6, 2023), when there were 26 available for sale, or 7.7% of the fleet.
As listings have increased over the last month, the average time on the market for Citation Jets for sale has increased just slightly from 136 days to 145 days. Of the CJs currently for sale, the average asking price dropped slightly from $1.74 Million in November to $1.71 Million in December. A few of the newer listings are older aircraft which brought the average asking price down just a touch. When it comes to sales, there were three Citation Jets that sold in December, down from five in November.
The average days spent on the market for sold Citation Jets over the last six months is 147 days, roughly the same as the days on market for current listings, indicating this is a good representation of how long it takes to sell a CJ. Over the last six months, the average sold price of a Citation Jet was $1.48 Million. This number has been decreasing steadily since September, indicating that Citation Jet values may be softening.
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.