Calhan Paint Mines Rock Formation
Calhan, Market Reports

Calhan, CO Rural Real Estate Market Report: 2018 Summary

Hi, I am a real estate agent that spends a LOT of my time working in the Calhan, Colorado area. My name is Sondra. I own Star View Real Estate. My real estate office and my farm are both located here in Calhan. Additionally, I have chosen to only work with land and homes that are on least five acres or more. Outside of the Calhan city limits, the majority of homes are on 35 – 40 acres lots. As such, I love working in the Calhan area.

 

About the Calhan area:

For those of you who are not familiar with Calhan, the town is a small incorporated city in El Paso County. It is located about 45 minutes northeast of downtown Colorado Springs. Calhan is about an hour and a half drive away from the Denver International Airport. Thus, Calhan is conveniently located between Colorado’s two largest metro areas. It is also about equal distance from I-70 and Highway 94, both which lead to Kansas.

Popular “attractions” include the Paint Mines. The photo of the rock formations show above was taken out there. The El Paso County Fair Grounds are located in Calhan. The Calhan Livestock auction is located in Calhan also, as the name would suggest. There is a grocery store, a feed store, two dollar type stores, a couple of antique shops, one motel, an RV camp ground, a busy gas station, churches, auto/tire repair shop, an auto parts store, a place to purchase new manufactured homes, etc. Those are the places that quickly come to mind. There a number of other businesses also.

If you are interested in living in a rural area that is still an easy drive to a variety of places in the Colorado Springs area, Castlerock, Elizabeth, Parker, Elizabeth, Limon, Denver and even Pueblo; this is a great area to live in. That is unless you want to live in a heavily wooded area, like the Black Forest, or actually in the mountains.

Yet, I have to warn you. Aside from trees that people planted years ago or those along creeks, land in the Calhan area is pretty open. I do not know about you, but the Calhan area fits my lifestyle. While the nearby forests and mountains are beautiful and relaxing, I prefer to actually live in an area without a bunch of trees. I prefer my livestock to NOT be eating trees. I also tend to like the wide open space, unobstructed views of sunrises, sunsets and starry nights. So if this sounds like you, be sure to check out the Calhan area if you want to buy some land or a home on acreage.

 

 

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.   Although I have tried to be accurate as possible, I can not guaranty the accuracy or that I did not make any typos.

If you want to figure out how much your home on acreage might sell for, please feel send me an email, text or call. After I see your place, I can give you a free, no obligation estimate. Since your home’s size, condition, and the quality of any fencing, barns, shops or other outbuildings all impact it’s value, I would need to see it in person.

Overview of Calhan’s Real Estate Market:

As of Thursday, January 17, 2019, – the Calhan real estate market is still a sellers market. Overall, buyers have not had a large inventory of homes in the Calhan area to select from. Home prices are up. Most sellers have been getting an average of 99% of their asking price. For most of 2018, sellers with homes in good condition that was appropriately priced, were receiving acceptable offers on their homes very quickly. For the last three years (2016 – 2018), it has taken an average of 30-38 days for the sellers of a house on acreage in Calhan to get an acceptable contract on their home. Of course, there were monthly and seasonal variations.

  • In 2018 – the average price of a home on 5 acres with a Calhan address was $347,136

 

  • In 2017 – the average price of a home on at least 5 acres in Calhan was $301,919.

 

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

 

73 homes on acreage sold in 2018. That is fewer than the prior year. This is largely attributable to the low supply of homes available for sale that qualified for conventional financing.

 

As of January 17, 2019, update:

There are:

  • 12 Homes for sale in Calhan that are on at least 5 acres. Price range between $209,900 – S469,000. (That is two fewer homes that were available for sale last year on January 14, 2018.) The homes are on lots from 5.3 acres to 160 acres.
  • 4 – Homes are under contract. The homes under contract range from 5.6 acres to 180 acres. The prices are ranging from $222,000 – $595,000.

No closings this month yet.

 

 

2018 was a great year for the Calhan, CO Real Estate Market.

 

Average amount of time for sellers to receive acceptable contract on Calhan, CO homes that were on 5 or more acres.

 

Time frame is from Jan 2009 to Dec 2018

 

 


In 2018, Calhan home sellers received acceptable contracts on an average  of  to 6  – 66 days.  The shortest average number of days was in March.  The longest was 66 days in September 2018.

It should be noted that homes took MUCH 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.)

There were definitely some homes that took much longer to sell or get under contract. It was not uncommon for sellers of homes in great condition that were priced between $200,000 – $400,000 to receive acceptable offer in two or three days.

 

 


Sales Price Trend for Calhan Homes on Five or More Acres

Calhan Homes on 5 or more acres sales price trend

 

  • In 2018 – the average price of a home on 5 acres with a Calhan address was $347,136
  • In 2017 – the average price of a home on at least 5 acres in Calhan was $301,919.
  • In 2016, the average price was $256,857.

73 homes on acreage sold in 2018. That is fewer than the prior year. This is largely attributable to the low supply of homes available for sale that qualified for conventional financing.

 


Number of Homes, 5 + Acres, Sold in Calhan By Price Range in 2018

Number of Calhan Homes Sold by Price Range

As you can see, most homes on acreage in Calhan sold for between $200,000 to $400,000.


Number of Calhan Homes Sold Based on Amount of Land

  • 5-6 Acres: 16 homes sold. The sales prices ranged from $199,000 to $420,000. The average sales price of a home on this size of lot was $288,019. Average price per square foot was $142.
  • 20 acres: 1 home on a 20 acre lot sold. It sold for $453,100. That worked out to 192 per square foot.
  • 35- 41 acres: 49 homes on this size of lot sold. The sales prices ranged from $165,000 to $731,368. The average price per square foot was $152.
  • 60 acres: 1 homes on a 60 acre lot sold. It sold for $560,000 at $148 per square foot.
  • 80 acres: 4 homes on 80 acre lots sold. They sold for between $220,000 to $760,000. The prices per square foot was very dependent on condition. They ranged from a low of $49 per square foot for a gutted out former meth house. The high was $232 per square foot. That property was unique in that it had a spring fed lake on it. The house was nice as well.
  • 160 acres: 2 home on 160 acre lots sold. One for $480,000. The other for $670,000. The more expensive of the two had an 80 x 220 insulated indoor riding arena, 31 horse stalls, updated house, etc.

 


Calhan Home Inventory Trends Over the Last 10 Years

(Homes on 5 acres and up)

Comparision # of Listings in Calhan

 

The number of Calhan homes available for sale has increased some since 2016. Yet it is still is very low compared to inventory levels in 2009 – 2015. I am working on another article that will have a much more detailed analysis of the 2015 – 2016 decrease in inventory levels.

 


2018 Homes Sales in Calhan by Month

Number of Calhan area home sales, 5 acres and up, as reported in the PPAR MLS

2018

  • Jan: 4
  • Feb: 5
  • March: 4
  • April: 6
  • May: 5
  • June: 7
  • July: 11
  • August: 4
  • Sept: 5
  • Oct: 5
  • Nov: 11
  • Dec: 6

A total of 73 homes on acreage in the Calhan, Colorado area sold in 2018.

 

 


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

Now. If you are ready. In the 2018 calendar year, homes on acreage in the Calhan were on the market for an average of 30 days.   The shortest monthly average number of days on market was 6 days.  The longest monthly average of the number of days on market was  66 days in September.  That is two months.   Not very long.

It takes a typical buyer about 5 weeks 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.

That said, the statistics over the last few years show that there is never a really bad month to sell a home. Sales are not as cyclical during the year as they can be in some places. Buyers seem to be purchasing homes when they get ready.

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.

Please feel free to contact me if you would like to get an idea of your home’s value or to discuss things that you can do that will help it sell quickly for what it is worth.   If you have any questions, let me know.

 

 

 

 

–Sondra

Sondra Meyer

Star View Real Estate

Owner/Broker

Specializing in horse properties and homes located on a farm, land or ranch – Five acres and up

719-761-6272

sondra@starviewre.com

Calhan Paint Mines Rock Formation
One of many rock formations at the Paint Mines in Calhan

Summary of the 2018 home sales in Calhan, Colorado. This report only covers homes on 5 acres and up. 2018 was a great year for sellers.

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