Our March 2024 update on what’s happening in the Citation Encore preowned sales market;
There are currently 159 Citation Encores in operation today, and of those 159 there are 6 available for sale, reflecting 3.8% of the fleet. This is down just slightly from February 2024 when 7 were available for sale, or 4.4% of the fleet. With the percentage of the fleet for sale constantly hovering around 4-5%, the Citation Encore remains a very popular business jet for owners and pilots alike.
While researching pre-owned aircraft markets, we follow a couple of key data points. The first one is average time on market, and we follow this for both aircraft currently listed for sale as well as aircraft that have sold over the last six months. For the Citation Encores that are currently listed for sale, they have been on the market for an average of 128 days. This is down 30 days since last month due to two Citation Encores being withdrawn from the market and lowering the average. As for the Encores that sold over the last six months, they spent an average of 106 days on the market, up just slightly from 98 days last month.
The other data point we follow is pricing. We closely follow the asking prices of aircraft currently for sale, and we also follow trends in sold prices of aircraft sold over the last six months. If you are shopping for Citation Encores today, you could expect to see asking prices range from $3,100,000 to $4,395,000. There were no Encores sold in February, but 7 have sold over the last six months. Of those, they traded between roughly $2,800,000 to $4,500,000, with the $4,500,000 sale being a September 2023 data point.
Working with a professional aircraft broker 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.Febr
