This time last year, the wind farm in Calhan, Colorado was under construction. The wind farm began commercial operation last October. This wind farm is somewhat unique in that the wind turbines are located in a rural area with lots of homes in the same general vicinity. A common concern has been that the wind turbines would hurt the rural property values of homes in Calhan. They are large and it is impossible to NOT notice them. Are the wind turbines hurting property values in Calhan? Short answer - the sales data clearly says no.
I pulled sales comps from the Pikes Peak Associations of Realtor's MLS for 2014 - May 19, 2016. The data shows that the rural real estate market in the Calhan area is doing better than last year (2015) and better than it was in 2014. I did not include homes in the actual Calhan city limits in this analysis since there are no wind turbines on city lots.
- The total number of sales through April increased.
- The average sales price increased.
- The median sales price increased. (Recall the median sales price is the price point where half the sales were above that dollar amount and half were below that amount.)
- The average days on market decreased significantly - from 153 days down to 46. It is still not uncommon for homes in poor condition to take significantly longer to sell. The homes with the lowest sales prices were in poor shape. Furthermore, the more expensive properties are generally taking a bit longer to sell. This is this is true in any area - not just Calhan.
- The highest sales price increased compared to the prior to years sales also.
|Sales Summary: Calhan, CO Homes with Acreage|
|Total Number of Sales||26||29|
|Total Sales through April||8||8||12|
|Average Sales Price||$ 213,782||$ 219,402||$ 248,319|
|Median Sales Price||$ 213,500||$ 215,000||$ 231,750|
|Average % Listing Price Received||0.99||0.98||0.97|
|Days on Market (Average)||153||153||46|
|Number Acres per sale (Average)||36||42||36|
|Low Sales Price||$ 60,250||$ 45,000||$ 73,000|
|High Sales Price||$ 420,000||$ 400,000||$ 467,500|
|Prepared by Sondra Meyer using data from Pikes Peak Association of Realtors MLS as of May 19, 2016. This data may not include all sales that occurred.|
For the amount of land that you can get, Calhan is a great place to purchase a home or ranch. I suspect that some people will always hate the wind turbines. Others, like me, have discovered the wind turbines are not all that bad. Personally, I would rather hear the slight humming noise of the wind turbines rather than the sounds of city traffic and sirens.
If you have any questions or if you would like to get an estimate on your home or ranch's value, please do not hesitate to contact me.
Sondra Meyer, CPA
Horse Property Specialist
Written and Photographed by Sondra Meyer