by Denise Wilson, CAM, Founder and President of The Jet Agent
As we head toward the end of 2024, the preowned Citation market is showing some significant shifts that every Citation owner should keep in mind.
While the Citation market has always been dynamic, we’re entering a new phase where it’s no longer just a strong seller’s market. Instead, we’re seeing a balanced landscape emerge between buyers and sellers, and this shift brings new opportunities—and some challenges—for both sides of any transaction.
A Shifting Landscape for Citation Models
Over the past few years, many Citation models experienced high demand and low inventory, creating a competitive and high-priced market. Due to low availability, even legacy Citations were in high demand. But as we progressed through 2024, a more balanced environment has developed. Some models, such as the Citation CJ2, have seen increased inventory and extended time on the market, while others, like the Citation XLS, remain scarce.
Understanding the change in trends is critical for informed buying and selling decisions. For instance, the CJ2 currently has inventory levels reaching 11.5% of the fleet, with listings often staying on the market longer than anticipated. In contrast, only 4% of the Citation XLS fleet is available, reflecting its high demand and limited supply. The disparity between these two models underscores how much buyer selectivity is affecting the market—and how essential it is for sellers to prepare their aircraft to stand out when it comes time to sell.
What’s Behind the Rise in CJ4 Inventory?
The Citation CJ4 market has experienced one of the most noticeable shifts, with available inventory more than doubling this year. We started 2024 with approximately 20 CJ4s on the market, but as of November, that number had risen to as high as 43. Much of this increase is due to a recent service bulletin (525C-56-01) addressing windshield frame issues. For some owners, the cost and time required for the repair have led them to list their CJ4s for sale rather than address the issue themselves and deal with extended downtime.
For buyers, this increased inventory provided an opportunity to negotiate more favorable terms, as the CJ4 market had now shifted from a low-supply, high-demand scenario to one where more choices—and better deals—were available. We’ve already seen the effect as several CJ4s have sold and/or gone under contract in the last month, bringing the number of CJ4s available for sale to 35.
The Tight CJ3+ Market
While the CJ4 inventory climbs, the CJ3+ market remains tight, with just 3.9% of the fleet available for purchase. Early serial numbers, particularly those from 2014 to 2018, are especially sought after by buyers aiming to acquire these models for under $8 million. The combination of low inventory and high demand has kept the CJ3+ market robust.
For CJ3+ owners, particularly those with an earlier serial number aircraft, this limited supply presents an excellent opportunity to maximize your sales price and steer the deal terms. For buyers, patience and diligence are key in a market with few options.
The M2 and Mustang Markets: Contrasting Trends
The Citation M2 has historically been a high-turnover market, but inventory has grown recently. As of the beginning of December, there were 40 M2s for sale, up from 27 just a year ago. This increase meant buyers had more choices and could be a bit more selective, which is a shift from previous years. In the last few weeks, however, we’ve seen a surge in Citation M2s going under contract.
On the other hand, the Citation Mustang market has seen a reduction in available aircraft, dropping from 39 units at the start of the year to just 23 now. This decreased supply has renewed buyer interest, as the Mustang remains a popular option due to its affordability and reliability.
Buyer Demand and Current Preferences
In the first two months of Q4, buyers have purchased 228 preowned Citation jets, with U.S. and Canadian buyers accounting for the majority at 176 aircraft. As December 31 approaches, demand for turn-key aircraft—those ready to fly immediately—continues to grow. While many buyers want an aircraft that requires no upgrades post-closing, those priced competitively and in solid condition still attract interest, even if minor post-sale work is needed.
Popular upgrades include avionics modernization on older models, such as the JetTech Garmin G600TXi panel and GFC 600 autopilot for the Citation CJ (525). For newer Citation models such as the Citation M2 and CJ3+, the Garmin G3000 hardware upgrade is a popular choice. Across all models, WiFi improvements such as the ATG upgrade to L3 and L5 Avance systems are a popular choice. With Gogo’s LTE network set to launch in early 2026, many buyers are looking to future-proof their aircraft’s connectivity and are getting ahead of the anticipated rush in installing the new system.
Looking Ahead to 2025
In the coming year, I expect to see the preowned Citation market continue to balance out between buyers and sellers. The CJ4 inventory should stabilize as more owners complete necessary service bulletin repairs, while the CJ3+ market is likely to stay competitive due to low inventory levels. Prices may adjust modestly, but I anticipate strong demand for well-maintained, turnkey aircraft—especially those with desirable features like upgraded avionics and WiFi. Buyers are decidedly off the fence now and I’m feeling a sense that buyers are jumping into the market with both feet.
Aircraft models with fewer maintenance needs and turnkey readiness will remain highly desirable. Sellers who take the time to make their aircraft market-ready will have a significant advantage, especially as inventories rise in certain Citation models. Legacy aircraft will likely continue to languish with longer days on market periods and price adjustments, as long as we continue to have a good selection of newer aircraft available to choose from.
Navigating a dynamic market like this one requires preparation, knowledge, and the right resources. With shifting trends, rising inventories and increasing demand for well-equipped, lower-hour aircraft, 2025 promises to offer opportunities for both buyers and sellers alike.
Denise Wilson has over 25 years of experience in all facets of the aviation industry, including over 20 years of flying Citations and other jets in both business aviation and commercial operations and 18 years of experience assisting clients in the acquisition and sales of jet aircraft. She authored the Amazon #1 Bestseller “The Insider’s Guide to Buying and Selling Jets.”