North Palm Beach Real Estate Report

March 1, 2016

​By KEN DUKE/Illustrated Properties
Special to North Palm Beach Life

The North Palm Beach real estate market value continued its upward trend in the first two months of the year with double digit increases in the housing values from the same period last year.  With Palm Beach County showing an annual increase of approximately 12%, North Palm Beach was near the norm at 10.1% increase of the Median sale price.  

The market time for list to sell is down 5.7% with that average market time now being 82 days.

The North Palm Beach market has a Median price of $311,000 but list prices are at a median of $330,000.  This differential accounts for a slowdown in the number of sales last year of 42 compared to this year’s 32 sales.  Median price is point where half the homes sold for more and half for less.

It is still a good time to buy.  For more information call Ken Duke at 561-876-6319.​

March, 2016 Market Report

January 11, 2016

​By KEN DUKE/Illustrated Properties
Special to North Palm Beach Life

The North Palm Beach real estate market continued its upward trend in 2015 with double digit increases in the housing market.  With Palm Beach County showing an annual increase of approximately 12%, North Palm Beach was near the norm at 11.4% increase of the Median sale price.  

One of the major drivers of price increases is the rental market, which is up 28% for the year.  This drives prices up to reflect the rental income that they might derive if put into the rental pool.  Owner occupants are suffering the consequences, but it still remains cheaper to buy than rent considering the tax benefits of ownership and the over value of appreciation.

The North Palm Beach market has a Median price of almost $300,000.  Median price is point where half the homes sold for more and half for less.

It is still a good time to buy.  For more information call Ken Duke at 561-876-6319. 

Neighborhood Report

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Ken Duke

Ken Duke, Managing Director Commercial Division
Illustrated Properties Real Estate

Since 1971 Ken Duke has been involved in the real estate industry in a variety of capacities including management, residential and commercial sales, leasing, property management, mortgage brokerage and acquisition management.  As a native of West Palm Beach, Mr. Duke has seen and been involved with the dynamic growth of the area and Palm Beach County as a real estate professional and business leader.

Prior to joining Illustrated Properties, Mr. Duke served as a Senior Broker at Reichel Realty and Investment from 2005 to 2014.  Prior to Reichel Realty he was Vice President of Acquisitions for a Chicago based property management company analyzing and recommending retail shopping center purchases for the firm. Before going to the Chicago area , he was the CEO of Regional Multiple Listing Service serving the Palm Beach and St. Lucie County Realtors for 10 years.  Prior to that Mr. Duke was the Broker/Owner of Century 21 Palm Glades Real Estate and Sheltec Inc., residential and commercial real estate firms respectively.

​Mr. Duke has served as an expert witness and consultant in real estate legal cases, served on the Governors Task Force on Title Insurance, served as President of the local Association of Realtors and received recognition as the 1989 Realtor of the Year for that organization.  He has also served on Palm Beach County Task Forces dealing with real estate issues.  He currently serves on the Palm Beach County Business Development Boards Business Recruitment Committee.

As a member of many community business and charitable organizations including ARC, Boynton Beach and Delray Chamber of Commerce, Buyers and Sellers Club of the Palm Beaches, National Association of Realtors, Florida Association of Realtors and Central Palm Beach County Association of Realtors Mr. Duke’s involvement in the community is evident .  Leadership positions with those organizations include President of the Central Palm Beach County Association of Realtors, Director and Treasurer of the Florida Association of Realtors and a seven year Director of the National Association of Realtors and Treasurer of ARC.