Our June 2024 update on what’s happening in the Citation CJ2 preowned sales market;
There are currently 235 Citation CJ2s in operation, with 24 available for sale, representing 10.2% of the fleet. This is an increase from last month, which had 23 CJ2s for sale, or 9.8% of the fleet. Listing activity has been steadily rising since January 2024.
The 24 Citation CJ2s currently for sale have been on the market for an average of 143 days, up from 119 days last month. The asking prices for these CJ2s range from $2,750,000 to $3,750,000. This price range has remained relatively stable over recent months, indicating that sellers have a clear understanding of the aircraft’s value. With over 10% of the fleet available, buyers have a considerable advantage, offering a wide selection to find their ideal aircraft.
In terms of sales, 4 CJ2s were sold in May, contributing to a total of 15 sold over the last six months, including 7 off-market transactions. For those officially listed, the average time on the market before selling was 170 days, slightly down from 178 days last month. The sold prices for these CJ2s ranged from $2,750,000 to $3,600,000. Despite the current buyer’s market, the sold prices align with the asking prices, indicating that buyers and sellers share a mutual understanding of the CJ2’s value.
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.
