Our December 2023 update on what’s happening in the Citation CJ3+ preowned sales market;
There were no new Citation CJ3+ deliveries from the manufacturer in November, so the fleet size is unchanged since our October update. There are 255 Citation CJ3+ aircraft in operation today, and as of December 7, 2023, there are fourteen available for sale, or 5.5% of the total fleet. That is a slight decline in CJ3+ aircraft for sale since the October update, when sixteen Cj3+ aircraft were listed for sale (6.3% of the fleet).
There were four Citation CJ3+s that sold in November, which is the most in any month this calendar year. The last “high” for sales of the CJ3+ came in December of 2022, with six aircraft changing ownership. Inventory levels and sales are trending upwards to repeat another busy December for Citation CJ3+ sales. The average sold price of Citation CJ3+ aircraft over the last six months is $8.8 million, which is down about $500K since last month. There were no Citation CJ3+ sales in May 2023 which raised the average sold price last month due to higher value CJ3+s in the rolling six-month average.
The four aircraft that sold in November were all traded at or under $8 Million, which brought the average sold price down. The average asking price for Citation CJ3+s for sale is currently $8.8 million, which is up from the October update. There are a couple of late-model CJ3+s with higher asking prices that were listed in November, bringing the average asking price up.
The average days on market for Citation CJ3+s currently for sale is 129 days, up slightly from our October update, which was an average days on market of 119 days. The four CJ3+s that sold in November were on the market for between 60-105 days, which helped lower the average days on market for sold aircraft from 128 in October to 116 in November.
Q4 2023 has been a whirlwind. As year-end approaches, there are still opportunities to find the perfect business aircraft for your needs. Working with a professional aircraft broker ensures a smooth transaction and timely results, as well as access to off-market aircraft that are not publicly advertised. Contact The Jet Agent today for a consultation with our professional Sales Directors and let us put our expertise and relationships to work for you in your search for your first or next aircraft.
