The Citation Latitude market enters September with inventory trending higher but still representing a very small percentage of the overall fleet. There are currently 10 aircraft available for sale, while seven retail transactions have occurred during the past six months. Sales activity improved notably during July and August following two months without a recorded transaction, giving the market some renewed momentum heading into the fall.
Fleet Size and Availability
There are currently 10 Citation Latitudes available for sale, representing just 2.1% of the fleet.
Inventory has increased steadily in recent months. After reaching a six-month low of five aircraft in April, availability climbed to six in May, eight in June and July, and 10 aircraft in August. While that represents a doubling of inventory from the April low, overall supply remains limited relative to the size of the Latitude fleet.
Market Listings
Current asking prices range from $12.495 million to $22.5 million, compared with a $12.5 million to $21.2 million range for aircraft sold during the past six months.
Current listings average only 63 days on market, significantly below the 153-day average for aircraft sold during the six-month period. The relatively young age of today’s inventory is important context when evaluating the recent increase in availability. Although more aircraft are entering the market, much of that supply has not yet had significant market exposure.
Sales Activity
There have been seven retail sales during the past six months, including two off-market transactions, representing 1.5% of the fleet.
Monthly activity was limited during the spring, with one sale each in March and April followed by no transactions in May or June. Activity then improved substantially, with three aircraft selling in July and another two in August. Those five transactions over the past two months account for the majority of the six-month sales total and suggest buyer activity strengthened during the summer.
What this means for you:
The Latitude is doing something interesting heading into fall: inventory is building and sales are picking up at the same time. Five transactions in July and August after nothing in May or June tells you buyers are engaged, but the doubling of available aircraft from April’s low of five to ten today means they have more to choose from. If you are selling, the 63-day average DOM on current listings works in your favor, but that number reflects fresh inventory. Aircraft that sit past that mark will start to stand out in a market where buyers are becoming more selective. If you are a buyer, this is the most selection you have had in this segment all year. With asking prices extending above the recent sold range, there is room to negotiate on aircraft that have been available longer, and the data supports making offers grounded in the $12.5M to $21.2M sold range rather than the upper end of asking prices.
