Our March 2024 update on what’s happening in the Citation CJ3 preowned sales market;
There are currently 409 Citation CJ3s in operation today, and of those there are 23 available for sale. That represents 5.6% of the fleet for sale. This is down from our February 6, 2024 update, when there were 27 CJ3s for sale, or 6.6% of the fleet.
When studying aircraft markets, there are a few different metrics that we follow. The first is the average time spent on market. We follow that for aircraft currently listed for sale, as well as aircraft that have sold over the last six months. The Citation CJ3s currently for sale have been on the market for an average of 168 days. This is about 40 days higher than the average last month, and that’s because there was only one off-market CJ3 sold in February, causing the average days on market for current listings to grow. The average days spent on market for Citation CJ3s that sold in the last six months is currently 127 days, down from last month when it was 142 days. This drop is attributed to an August 2023 sale falling off our rolling six-month average, which was on the market for 413 days.
The other metric we follow is the range of prices for aircraft currently for sale, as well as the range of sold values of aircraft that have changed ownership over the last six months. If you are shopping for Citation CJ3s today, you could expect to see asking prices between $4,250,000 and $6,500,000. In February, there was one CJ3 sold, and over the last six months, 18 CJ3s sold. Of those 18, they sold at prices that ranged from $4,800,000 to $6,100,000.Â
Working with a professional aircraft broker that knows the market is your best option when it comes to sourcing your next aircraft. 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!
