Citation CJ3+Market Update:
The Jet Agent is pleased to provide the following Citation CJ3+ market update for October 2024.
The Citation CJ3+ market is thriving. Sales have been rising month-over-month since June, and values remain strong. The supply of CJ3+s for sale has been declining, with the current number at its lowest since February 2024. There’s a specific demand by buyers seeking earlier model year aircraft that can be purchased under $8 million.
Let’s take a look at the CJ3+ details:
- Availability: There are 282 Citation CJ3+ aircraft in operation today. Currently, 10 of those are for sale, or 3.5% of the fleet. This is the lowest number of CJ3+ jets for sale since February 2024. Last month, 13 were for sale, representing 4.6% of the fleet.
- Listings: The 10 CJ3+ aircraft for sale have been on the market for an average of 128 days, up from 117 days last month. Asking prices range from $7,295,000 to $10,900,000. All listed CJ3+ aircraft are 2018 year of manufacture or newer with less than 1,000 hours on the airframe, except for one in Europe which is pending sale. Despite fewer listings, the available aircraft are newer models with great airframe times.
- Sales: Four CJ3+ airplanes sold in September, up from three in August. Citation CJ3+ sales have been increasing monthly since June. Over the past six months, 17 CJ3+s were sold, with three of those being off-market sales. Publicly advertised CJ3+s spent an average of 108 days on the market before selling, down from 125 days last month. Sale prices over the last six months ranged from $7,100,000 to $11,250,000.
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At The Jet Agent, we stay on top of evolving market trends, with a particular focus on Citation fleets. Our team is here to assist you with your next CJ3+ acquisition or sale.
