Improved interest in 2011 certainly equates to improved activity in 2012. We have 39 properties either sold or contingent at March 31 2012. With the trend continuing this will be the fourth year in a row with improved sales transactions on Seabrook Island.
Bank sales equate to approximately 20% of the market in 2011 and may be similar for closings in 2012. The sales average should also continue to rise this year. First quarter average is up, reflecting increased movement in higher valued properties.
We look forward to showcasing Seabrook Island to our many visitors during the 2012 PGA Tournament in August.