Our August 2024 update on what’s happening in the Citation CJ2 preowned sales market;
Of the 235 Citation CJ2s currently in operation, 28 are on the market, representing 11.9% of the fleet. This is a slight decrease from last month, when there were 30 available, or 12.8% of the fleet.
The 28 CJ2s for sale today have been listed for an average of 149 days, an increase from last month’s 133 days. This change is partly due to one CJ2 that sold in July after just 69 days on the market, which caused the average days on market (DOM) for the remaining aircraft to rise. The asking prices remain consistent with last month, ranging from $2,650,000 to $3,750,000.
In terms of sales, two CJ2s were sold in July, bringing the total to 14 over the last six months, with six of these transactions happening off-market. The CJ2s that were publicly listed spent an average of 164 days on the market before selling, up from last month’s average of 151 days. This increase is attributed to one CJ2 that took much longer than average to sell. The sale prices for CJ2s over the last six months ranged from $2,750,000 to $3,400,000.
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 insights with you.
