Citation CJ1+ Market Update:
The Jet Agent is pleased to provide the following CJ1+ market update for October 2024.
Due to the small size of the Citation CJ1+ fleet, activity is lower than other fleets. Regardless, we are closely monitoring new listings and sales to provide you an in-depth look at what’s happening in this market.
Let’s dive in:
- Availability: There are 100 CJ1+s still in operation today. Of those, seven are for sale, 7% of the fleet. This is unchanged from last month.
- Listings: The seven CJ1+s for sale today have been on the market for an average of 111 days so far. This is down significantly from last month, when the average was 264 days. The two CJ1+s that sold in September were way above the average days on market, so removing them from the “for sale” list dropped the average. CJ1+ asking prices today range from $2,050,000 to around $3,000,000.
- Sales: As mentioned above, there were two Citation CJ1+s sold in September. There were 11 sold over the last six months, and three of those were never advertised and sold off-market. Of the publicly listed CJ1+ jets, they spent an average of 250 days on the market prior to selling. This is up from last month when the average was 129 days. This happened because the two CJ1+s that sold in September were on the market much longer than the average. Similar to how the average days on market for listings went down when these two aircraft sold. Over the last six months, CJ1+ jets sold between $2,350,000 and $2,800,000.
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At The Jet Agent, we stay on top of evolving market trends, with a particular focus on Citation fleets. Our team is here to assist you with your next Cessna Citation CJ1+ acquisition or sale.
