Our May 2024 update on what’s happening in the Citation CJ1 preowned sales market;
In the landscape of Citation CJ1 aircraft, there are currently 194 units in operation. Among them, 12 are available for acquisition, representing approximately 6.2% of the total fleet. This figure marks a slight increase from the previous month, where 11 CJ1s were listed for sale, constituting 5.7% of the market.
Of the 12 Citation CJ1s seeking new ownership, their average time on the market is 197 days, with asking prices ranging from $1,495,000 to $2,150,000. The average days on the market have seen a slight decrease from the previous month’s figure of 204 days, owing partially to the addition of three new listings in April. Furthermore, one of the two aircraft that sold in April remained on the market for an extended period, notably impacting the current reduction in the average time on the market.
Turning to the 13 Citation CJ1s that changed ownership over the past six months, their average time on the market was 132 days, with sold prices ranging from $1,250,000 to $2,250,000. Notably, the same CJ1 mentioned above that sold in April took longer to sell than the average, resulting in a modest increase in this month’s average to 132 days. Despite fluctuations, the time on the market for CJ1s has remained relatively consistent over recent months, providing a reliable reference for sellers.
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.
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