Press Release

The Jet Agent founder and president Denise Wilson.

Issued by The Jet Agent.

November 4, 2024

There's a shift underway in the preowned Citation markets, according to The Jet Agent, a leading US aircraft brokerage and consulting firm specialising in Citation acquisitions and sales. Founder and president Denise Wilson, CAM, has spotlighted key trends shaping the market, including the strong seller's market giving way to a more balanced landscape between buyers and sellers.

“The preowned Citation markets remain healthy, but we're seeing notable shifts,” said Wilson. “While models like the Citation CJ2 are experiencing high inventory levels (10.6 percent) with extended time on the market, other models like the Citation XLS are in limited supply, with only 2.7 percent of the fleet currently available. Understanding these trends is essential for making informed buying and selling decisions.”

Wilson highlighted the surge in Citation CJ4 availability, noting that the number of preowned CJ4s for sale has more than doubled in 2024, from 20 to 43 units. She attributes this to windshield frame issues that resulted in a new service bulletin (525C-56-01). On the other hand, the Citation CJ3+ market remains tight, with only 3.2 percent of the fleet available for purchase. Earlier serial numbers, particularly 2014-2018 models, are in high demand from buyers looking to acquire these aircraft for under $8 million.

There are also shifts underway in the Citation M2 and Mustang markets. While the M2 market has historically experienced brisk turnover, the inventory has risen significantly recently, with 40 units currently available, up from 27 a year ago. In contrast, the Citation Mustang market has seen a reduction in available aircraft, dropping from 39 units at the start of the year to 21 today.

Since September 1, buyers have acquired 152 preowned Citation aircraft, with U.S. and Canadian buyers purchasing 118 of these jets. As buyers seek turn-key solutions before the close of the tax year, demand is more noticeable for ready-to-fly aircraft, though some are willing to accept minor post-closing upgrades on aircraft that are priced appropriately.

The Jet Agent reports that popular upgrades include avionics modernisation on older airframes, such as the JetTech Garmin G600TXi panel and GFC 600 autopilot for the straight Citation CJ (525). WiFi improvements to L3 and L5 Avance systems are also in demand, in anticipation of GoGo's LTE network launch in early 2026.

“As we head into a more balanced market, it's more important than ever for sellers to prepare their aircraft for sale,” Wilson emphasised. “The aircraft that stands out in a crowded market will sell first and at a higher price than one that languishes on the market.”

Scheduling upgrades like avionics, paint or WiFi installation can be challenging this time of year, with shop availability already booked well into 2025. “Though time is short to sell this year, sellers can still boost their aircraft's value with small improvements like cosmetic touch-ups and ensuring their logbooks are complete and organised,” Wilson said.