Our February 2024 update on what’s happening in the Citation CJ1+ preowned sales market;
The smallest fleet that we track is the Citation CJ1+ market. With only 100 total aircraft in operation, it may be a small fleet, but the market stays active year-round. Of the 100 CJ1+s in operation today, 7 are currently for sale (7% of the fleet). This is down a few from last month, when there were 10 CJ1+s for sale, or 10% of the fleet.
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There are two important figures we look at when studying the business aircraft markets. The first is time on market. We look at this for both aircraft currently listed for sale, as well as aircraft that have sold over the last six months. Of the Citation CJ1+s currently for sale, they have been on the market for an average of 289 days. This is up from last month when the average was 253 days. The other side of this is average days on market for aircraft sold over the last six months. That average is currently 218 days, up just a little from last month when it was 210 days.
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The second important figure we follow is pricing, both asking prices of aircraft currently on the market and sold prices of aircraft sold over the last six months. If you were shopping for a Citation CJ1+ today, you would see asking prices ranging from $2,200,000 to $2,900,000. 2 Citation CJ1+s sold in January, and 11 sold in the last six months. Of the 11 that sold, they transacted between $2,400,000 and $2,895,000.
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In January, we saw the typical slow-down of aircraft transactions following yet another busy Q4 in 2023. While transactions may have slowed in January, there are still great aircraft to choose from available on the market, as well as buyers looking to purchase. Finding a great deal in Q1 is possible, and working with a professional aircraft broker is your best option when it comes to sourcing your next aircraft. Contact The Jet Agent today and let us use our resources to help you find your next aircraft or find a buyer for your current aircraft!
