Reviewing the 2024 year in island real estate, virtually all stats confirm a consistent cooling of the market. This continues the downward trend from the height of the COVID frenzy in 2021 and early 2022. 

Sales across all property types in San Juan County reflected a 17% decrease in dollar volume and a 6% decline in the number of transactions in comparison to 2023. A couple of bright spots to note, however: fourth quarter sales were greater in 2024 as compared to 2023, and early 2025 transactions (in escrow) are excelling as compared to early 2024 transactions. This may be an early indication of positive island market movement.