Our July 2024 update on what’s happening in the Citation CJ3+ preowned sales market;
There were 4 new Citation CJ3+s delivered by the manufacturer in June 2024, growing the fleet size from 273 to 277 aircraft in operation. Of those 277 CJ3+s, 16 are currently for sale, representing 5.8% of the fleet. This is unchanged from last month when there were also 16 for sale, representing 5.9% of the fleet due to the smaller fleet size last month.
The 16 Citation CJ3+s for sale today have been on the market for an average of 109 days to date, up from 81 days last month. With fewer CJ3+s selling this month versus last month, the listings continue to age on the market, causing the average days on market to rise. The CJ3+s currently listed for sale range in asking price from $7,295,000 to $12,000,000.
The rising trend of Citation CJ3+ sales slowed in June with only 1 selling. Over the last six months, there were 13 CJ3+s sold, with 2 of those being off-market transactions (aircraft that were never advertised to the public). The on-market CJ3+s that were sold over the last six months spent an average of 114 days on the market, mostly unchanged from last month when the average was 117 days on the market. The Citation CJ3+s sold over the last six months range in sold price from $6,500,000 to $11,250,000.
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 knowledge with you.
