Our August 2024 update on what’s happening in the Citation CJ3 preowned sales market;
The Citation CJ3 fleet consists of 410 aircraft in operation as of August 1, 2024. There are currently 29 CJ3s for sale, which is 7.1% of the fleet. This is unchanged from July 2024 when there were also 29 CJ3s available for sale. More CJ3s are for sale now than we have seen since before the pandemic started.
The 29 Citation CJ3s that are available for sale have been on the market for an average of 145 days so far, also unchanged from last month. CJ3s for sale range in asking price from $3,750,000 to $6,495,000.
Looking now at sold data for Citation CJ3s, there were 4 CJ3s sold in July 2024, and over the last six months 18 have changed ownership (7 of those were off-market sales). CJ3s that sold over the last six months spent an average of 169 days on the market before selling, up 40 days from July when the average was 129 days. The 18 CJ3s sold over the last six months range in sold price from $4,175,000 to approximately $6,450,000.
There are a few pending sales already for August, so we expect sales trends for August to mirror July sales.
While buyers have a large percentage of aircraft to choose from, finding a high pedigree CJ3 is still a challenge, with a large percentage of the fleet having damage history, corrosion history or other “stories”. Using an expert on this airframe will help narrow the choices to help uncover the CJ3 that meets your requirements.
Contact The Jet Agent today and let us use our resources to help you find your next aircraft or find a buyer for your current aircraft.
