Our July 2024 update on what’s happening in the Citation Encore preowned sales market;
There are still 159 Citation Encores in operation today, and of those, there are currently 8 for sale (5.0% of the fleet). This is up 1 Encore for sale since last month, when there were 7 available for sale, or 4.4% of the fleet.
The 8 Citation Encores available for sale today have been on the market for an average of 147 days, down slightly from last month when the same average was 157 days. There were 2 new Citation Encore listings introduced to the market in June which helped lower the average days on market slightly. Looking at the Citation Encores listed for sale, they range in ask price from $2,900,000 to $4,995,000.
Looking now at the sales data for the Citation Encore, there was 1 Encore sold in June, and 7 have sold over the last six months. Of those, over half (4) were sold off market, not having been publicly advertised. The Encores that were publicly listed for sale averaged 83 days on the market before selling, down slightly from last month when the same average was 107 days. Over the last six months, the Citation Encores that sold were in the range of roughly $2,800,000 and $4,125,000.
Citation Encores with a solid pedigree still command strong sales prices. There are also some great deals on the market for higher hour Encores. While this market moves at a slightly slower pace than some of its newer counterparts, it is still a very active market and is somewhat of a niche market for those buyers that understand the value this highly-capable aircraft offers.
The Citation Encore remains a favorite among owners and pilots alike, and aircraft with solid pedigrees still command a strong sales price, even as this legacy Citation fleet ages.Â
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.
