Are the Wind Turbines Hurting Property Values In Calhan, CO ?

By
Real Estate Agent CO: II100035296

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.    

 

Wind turbines in Calhan, Co on March 8

 

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.  

 

Wind Turbines of Calhan at Sunset

Sales Summary:  Calhan, CO  Homes with Acreage      
  2014 2015 2016  YTD
      through April
       
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.    

 

Wind Turbines and a Windmill at Sunset in Calhan

 

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.  

 

Sincerely, 

Sondra Meyer, CPA 

Horse Property Specialist 

719-761-6272

 

Written and Photographed by Sondra Meyer

 

Comments (10)

Sharon Lee
Sharon Lee's Virtual Assistance - Jonesborough, TN
Retired and loving life

Hi Sondra-This is good news for this area. Hope you are getting a little down time this weekend.  Nice to see you. Say hi to Dale.

May 28, 2016 10:51 AM
Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

Beautiful photos. That is quite a drop in DOM. Glad to see turbine did not affect the local market values.

May 28, 2016 11:46 AM
Andrea Swiedler
Berkshire Hathaway HomeServices New England Properties - New Milford, CT
Realtor, Southern Litchfield County CT

Good news! I love the idea of them, cleaner energy for sure. And they do make for good photo opportunities too!

May 28, 2016 12:15 PM
Mimi Foster
Falcon Property Solutions - Colorado Springs, CO
Voted Colorado Springs Best Realtor

Great report, Sondra. Nice way to pull the information and separate it. Calhan is so 'remote,' are the wind turbines near the houses? I haven't been out to Calhan in years :)

May 28, 2016 01:49 PM
Sondra Meyer:
Colorado Springs, CO
See It. Experience It. Live It.

Hi Sharon Lee , Great to see you! This is very good news for the home owners. I'm off to take photos of a ranch as soon as I respond to these comments. I'll tell Dale you said hi.

Les & Sarah Oswald, thanks for compliments on photos. I've come to enjoy trying to capture pretty pictures of the turbines.

Andrea Swiedler, thanks for stopping by. Personally, I'd prefer to not have them obstructing the mountain views. However, they make pictures of wide open pastures and skies much more interesting.

Hi Mimi Foster!  Maybe we should plan for a picnic or hike at the Paint Mines one day now that the weather is so nice?  Then you could see the wind turbines in person.   After thinking about your comment, I've decided that on Tuesday, I should reach out to manager of the wind farm with a few questions, to include how far did they have to keep them away from the houses? (The people with turbines on their properties signed some sort of nondisclosure agreements so I don't like to bother them with questions they maybe shouldn't be answering). According to news reports, the wind turbines are about 450 feet tall. So their actual proximaty is very deceiving. I could take pictures that make it look like I have on in my flowerbeds next to front door if I wanted. That is obviously not true. There are some turbines on the neighboring place to my ranch. This set of pictures don't include the turbines closest to me. The sunset photos are taken in my back pasture. The other one was taken from the road.

Let me know if you are interested in going on a hike.  

May 28, 2016 10:50 PM
Dale Poll
Dale Poll Photography - Colorado Springs, CO

Such beautiful photography. I really like the sunset image. Bravo!

May 28, 2016 11:25 PM
Gary Woltal
Keller Williams Realty - Flower Mound, TX
Assoc. Broker Realtor SFR Dallas Ft. Worth

OK I am going to take a different position on this, since I have a fairly dominant analytical side as well. The answer to the question I really think is, "it depends". The wrong conclusion can come from the data. I think in the present timeframe the conclusion is correct based on the data. Prices going up, days on market going down indicates no deleterious effect. BUT in the bigger picture of five or ten years with changing supply and demand the presence of a wind farm with turbines could adversely affect value. It really all has to do with competition. If another area was available with ample "supply" of homes, ranches, farmland, "without" the turbines I would think it would be more preferable, say to the north, south, east, or west. But the short term answer is no negative effect, people either put up with it now as just an "as is" condition or as you also pointed out the hum could be viewed as soothing, similar to close to railroad tracks, with the daily train whistles going by, something subjective in nature. I think the objections are not so much the sound, but the gargantuan structure dotting the landscape and the bird strikes. In the panhandle of Texas when the counties that don't have these, and they are proposed, there are a significant number who protest them being built. I wish we harnessed tidal energy underwater more than wind energy on top of the land.

May 29, 2016 12:32 AM
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Sondra - Great analysis and really good information to know. Most of our turbine farms up here are remote, but I expect that will change eventually.

May 29, 2016 03:37 AM
Sondra Meyer:
Colorado Springs, CO
See It. Experience It. Live It.

Dick Greenberg Thanks Dick.   I suppose it is going to depend on the highest and best use of the land in your area.  

Gary Woltal Well, I just say that a lot of birds that kill themselves by flying into my sunroom windows and patio doors.    Actually, you got me thinking about property values in 25 years.    For those of us that like remote, rural living, the wind turbines will ensure that we won't be staring at a sea of roofs in subdivisions as long as the wind turbines are still operational.     One more note- the hum of the turbines is signicantly quieter than the sound of a train or even a jet flying overhead.

Dale Poll - Thank you for the compliment.  It means a lot coming from you.  :)   

 

May 29, 2016 08:50 AM
Cody Carmen
Adhi Schools, LLC - Rancho Cucamonga, CA
Market Analysis--Educational Content, Adhi Schools

Very cool topic Sondra. There are so many factors that influence a real estate market and I love reading unique analysis. I think Gary makes some great points  about potential long term impacts, but the success of the real estate market in this area (at least for now) may also act as an impetus to add wind power in other similar areas. All we can do is try to stay informed!

May 31, 2016 02:35 AM