Star View Real Estate

Calhan, CO: Real Estate Market Analysis as of January 14, 2018

Calhan, CO:  Real Estate Market Analysis as of January 14, 2018

I am a real estate agent that specializes in Colorado homes that are located on a farm, land or ranch. I spend a lot of time working in the Calhan, CO area since Calhan is home to my small, diversified ranch. The town of Calhan is a small incorporated city that is located about 45 minutes northeast of Colorado Springs. It is also within an hour and a half drive to the Denver International Airport. In other words, Calhan is conveniently located between Colorado’s two largest metro areas. Although you can see the mountains from Calhan, the area is just far enough away from the mountains that Calhan remains an affordable area for people that want to live out in the country and have cattle or horses.

I prepared the following Calhan real estate market analysis using data from the Pikes Peak Association for Realtor’s MLS (PPAR MLS). Since I specialize in rural homes on acreage, I only included only homes that were on 5 acres or more in my data. This data provides a general snapshot of the Calhan, CO real estate market. Please feel free to contact me if you are trying to determine the value of your home. Your home’s size, condition, and the quality of any fencing, barns, shops or other outbuildings all impact it’s value.

 

Photographers at the Paint Mines Park which is located in Calhan, CO.

 

Bottom Line Up Front:

As of January 14, 2018, – the Calhan real estate market is a sellers market. There are very few homes in inventory for buyers to select from. Homes that are priced to reflect their condition are going under contract quickly. For the last two years, it has taken an average of 35-38 days for the sellers of a house on acreage in Calhan to get an acceptable contract on their home.

Homes take longer to sell if they:

  • Do not show well
  • Are over priced for their age/condition,
  • Require significant repairs and/or modifications to suit the average buyer. (Sellers, you need to remember that if an investor purchases your home, they need to be able to make an adequate profit to compensate for the risk and time associated with purchasing the fix it upper.)

As of January 14, 2018, at 3:45 pm, there were:

14 – Homes for sale in Calhan that are on at least 5 acres. Prices range from $199,900 to $996,000.

7 – Homes under contract

1 – Closed sale

2017 was a great year for the Calhan, CO Real Estate Market.

 

Number of Homes on Acreage That Sold each Month in 2017

 

85 homes on acreage sold in Calhan in 2017. That is 15 more than sold in 2016.
The average price of home was up as well.

In 2017 – the average price of a home on at least 5 acres in Calhan was $303,979.

In 2016, the average price was $256,857.

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Number of Calhan area home sales reported in the PPAR MLS
By Month

2017

  • January – 7
  • February – 2
  • March – 6
  • April – 5
  • May – 1
  • June – 16
  • July – 9
  • August. 10
  • September. 7
  • October. 11
  • November 4
  • December. 6

A total of 84 homes on acreage in the Calhan, Colorado area sold in 2017.

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When is the Best Time to Sell A Home in Calhan?

 

Now. In the 2017 calendar year, homes on acreage in the Calhan and Ramah area were on the market for an average of 35 days before the owners received a contract. It takes about 5 – 6 weeks on average for a buyer to be able to do their inspections and to get their loan. So, people that would like to close on a house in March, are looking now and need to have the house they want under contract by late January or in February.

The monthly sales figures shown above for the Calhan area indicates that there is not really a “bad time” to try to sell your home. That said, late December, the Christmas holiday period, is probably the least popular for both sellers and buyers. That would explain why there was only one real estate closing in February.

We are currently operating in a sellers market with very few homes for buyers to choose from. As of tonight, January 14,  2017 there are only 14 homes on acreage in the Calhan and  areas for buyers to select from. It should be noted that even though there are not many homes for buyers to choice from, buyers still want to find a good value.

Even though it is a sellers market, if you want to maximize how much you can sell your home for – clean it up.  Get rid of clutter.  Take care of those repairs that have been on the To-Do List for what seems like forever.  

If you would like help selling your home or finding a home in the Calhan or Colorado Springs areas, please do not hesitate to contact me.

 

Summarized 2017 Real Estate Market Results for Homes on Acreage in the Calhan, CO area:

  • 84 sales in 2017 of homes on at least five acres.
  • Average Days on Market for 2017 – 35 days
  • Average Sales Price $303,979
  • Median Sales Price. $296,000
  • Lowest Priced Home Sold. $98,000 ( Fix it Upper. Worked out to $72 per square foot. 5 acres)
  • Highest Priced Home Sold – $775,000 (Worked out to $129 per square foot. 45 acres)

Size of Lots with Home that Sold in 2017

Acreage

5-10 acres. 24 sales. Prices ranged from $98,000 – $394,500

34-45 acres. 53 sales. $115,000 – $775,000

80-93 acres 7 sales $355,000 – $690,000

 

Calhan Homes Sales in 2017
Sales By Price Range for Homes on 5 or more acres

Conclusion:

 

Homes on acreage in Calhan have been selling very well.   If you are thinking about selling a home on acreage, whether it be a house on land, a farm or a ranch, 2018 should be a great year to sell.

Please feel free to contact me if you would like to get an idea of your homes value or to discuss things that you can do that will help it sell quickly for what it is worth.

 

–Sondra

 

Sondra Meyer

Real Estate Agent

Hayden Outdoors

Specializing in horse properties and homes located on a farm, land or ranch.

719-761-6272

sondra@starviewre.com

 



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