Citation CJ1 Market Update:
The Jet Agent is pleased to provide the following Citation CJ1 market update for December 2024.
The CJ1 market saw no recorded sales in October, although listing activity has been increasing steadily since May. With a few deals pending, we expect to see sales pick up in November.
CJ1 Market Overview:
Fleet and Availability:
There are currently 195 CJ1 jets in operation, with 21 listed for sale, which is 10.8% of the fleet. This is a slight increase from last month, where 20 CJ1s were on the market (10.3%).
Listings and Asking Prices:
The 21 CJ1s currently listed have been on the market for an average of 152 days, up from last month’s 145-day average. Asking prices range from $1,300,000 to approximately $2,500,000. With listing activity rising since May and pending sales on the horizon, we anticipate 2-3 transactions to close in November.
Sales Activity:
Though no CJ1s sold in October, seven CJ1s changed ownership over the past six months, with two of those being off-market transactions. Publicly listed CJ1s that sold in this period averaged 74 days on the market, a notable decrease from last month’s 129-day average. This reduction is due to older, high-DOM listings rolling off the six-month average. CJ1s that sold during this timeframe traded in the range of $1,250,000 to $2,300,000.
As we close out the year, the CJ1 market remains active, and we anticipate more movement as pending deals finalize.
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