Our June 2024 update on what’s happening in the Citation CJ1+ preowned sales market;
The Citation CJ1+ is the smallest fleet in the Citation family, with only 100 aircraft in operation today. Of these, 9 are currently for sale, representing 9% of the fleet. This number remains unchanged from last month, as reported on May 6th.
The 9 CJ1+s currently listed have been on the market for an average of 181 days, up slightly from 179 days last month. This average has only marginally fluctuated in recent months, providing sellers with a clear expectation of market duration. Buyers can anticipate asking prices ranging from $2,400,000 to approximately $3,000,000.
In May, 3 Citation CJ1+s were sold, the highest monthly total so far this year. Over the past six months, 11 CJ1+s have traded, with 4 of these being off-market transactions. The 7 on-market transactions averaged 248 days on the market before selling, consistent with last month’s average of 250 days and down from 289 days in our April 11th, 2024, update. The unique nature of this aircraft often leads to fewer buyers, resulting in longer time on the market. However, sales remain active, with one CJ1+ already sold in June and another pending sale.
Each aircraft market is unique and full of intricacies that can be difficult to follow. As the markets shift, it is more important than ever to work with a professional aircraft broker who studies these markets daily and can make expert recommendations based on actual market data.
If you are interested in buying or selling an aircraft, or are just interested in learning more about the Citation markets, contact The Jet Agent today and let our team of experts share our knowledge with you.
