Our May 2024 update on what’s happening in the Citation CJ2 preowned sales market;
There are 235 Citation CJ2s in operation today, and of those there are 23 currently available for sale (9.8%) of the fleet. This is up 4 aircraft for sale since last month when there were 19 available, or 8.1% of the fleet. This is the highest percentage of CJ2s for sale in over a year, giving buyers the upper hand as they have a large number of aircraft to choose from during their search.
Focusing on the 23 Citation CJ2s for sale, they have been on the market for an average of 119 days so far, and range in ask price from roughly $2,500,000 to $3,695,000. As more CJ2s have entered the market for sale, this has dropped the days on market average for the last few months.
Now on to the 12 CJ2s that have sold over the last six months: they spent an average of 178 days on the market before selling, and range in sold price from $2,750,000 to $3,600,000. As the market became more saturated with CJ2s for sale and no increase in CJ2s sold, this causes the average days on market for sold aircraft to rise as well. The average days on market has been on the rise since October 2023, and with listing activity continuing to rise, we do not anticipate seeing this trend reversing until sales start to follow suit.
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.
