Now that the election is over, the Colorado housing market seems primed for buyers this winter. And with two interest rate cuts since September, that would seem to make sense.
But traditional 30-year mortgage rates was 7.05% on Friday, up from a week ago’s 6.98% after the Federal Reserve cut interest rates. And even though more houses were for sale — and sold — last month, house hunters may continue to sit out as median sales prices sit at more than a half-million dollars. Colorado’s median sales price inched up 2.3% to $583,000 while the Denver metro stayed put, up just $10 — yes, $10! — to $625,000 from a year ago.
“Affordability is a challenge and is at its highest level of concern in the past couple of decades,” said Cooper Thayer, a Denver-area Realtor at The Thayer Group. “One of my specific concerns is the condo market, which has really struggled.”
Homes and townhomes that start in the mid $300,000s sit opposite the Banning Lewis Ranch sales center in Colorado Springs on Oct. 12, 2024. The Oakwood Homes community includes new homes constructed by other builders, including Richmond American Homes and Covington Homes. (Tamara Chuang, The Colorado Sun)
Higher condo fees have discouraged buyers looking for something more affordable than a single family house. In Denver, median condo sale prices dropped 6.5% to $402,000 while the number of sales fell 12.9%. Statewide, condo prices fell 4.5% and sales dropped 5.1%.
But what doesn’t show up in Denver County’s numbers could be a good sign for house hunters who’ve been priced out. The county had a 37.6% increase in home sales in October and 55% of the closed transactions had some sort of seller concession, Thayer said. The average was $8,760, which can be anything from a rate buydown or the seller covering closing costs or the cost to fix items after an inspection. Concessions don’t always affect the sale price and don’t show up in the monthly data.
“Being that half of the transactions had a concession,” Thayer said, “when you reframe how you’re thinking about pricing and put it into a net number, it may actually be a little bit lower than the prices that are being reported.”
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In the Denver metro area, which includes adjacent counties, sellers were also getting just 98.5% of their asking price. Back in the pandemic heyday, as buyers competed for houses and outbid one another, the average sale price was 105.5% above the asking price in May 2021, according to data from the Colorado Association of Realtors. Statewide, houses were selling for 98.3% of the asking price.
Other agents reported similar trends pointing to a buyer’s market, the latest Colorado Association of Realtors report said. Sellers were negotiating “and dropping their prices to get their places sold before the snow flies,” according to Dana Cottrell, a Realtor in Summit County. Inventory for Summit, Park and Lake counties was up 30% while median prices were down 13%. But affordability is relative in Cottrell’s area — the median sales price in Summit and Park counties was more than $1 million.
Jay Gupta, a Colorado Springs Realtor, noted that 44.2% of active homes for sale reduced the price in El Paso County last month, while Teller County saw 30.7% cut prices.
“Buyers currently have excellent opportunities due to high inventory levels, motivated sellers, and dropping interest rates,” Gupta said in a news release.
But affordability is still one of the biggest issues in the area, said Patrick Muldoon, head of Muldoon Associates in Colorado Springs. In El Paso County, the median sales price increased 2.1% in a year to $475,000, while condo and townhouse prices fell 1.9% to $330,000.
“On my side, it is crickets. Part of it may be the mental side of the election. But I believe it is still affordability and the economy. Buyers have checked out,” Muldoon said in an email, adding that showings have slowed as a result. “I don’t think I have ever seen stagnation in the housing market like this. Nothing happening.”
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Colorado housing prices for Oct. 2024, according to the Colorado Association of Realtors.
There was a large jump in homes sold last month compared with a year ago. There are two reasons for that, Thayer said. October 2023 was brutal. The number of homes sold in the Denver metro area fell 17.4% from a year earlier to 2,784 sales. So the 22.1% uptick last month to 3,467 sales gets activity closer to where it was two years ago.
Some pre-approved buyers jumped in last month as mortgage rates hit a low-to-mid 6%. Some lenders offer to “float” the rate for 30 days so the buyer can lock in a rate within the month if rates should drop.
“What happened in that period was we had some houses under contract, and lenders were floating the rate, and then all of a sudden it went down for a week, and everybody locked in,” Thayer said. “Those weekly movements can have some impact on the market (but) don’t really affect the overall trend.”
➔ Around the state: Here’s what Realtors around Colorado are saying about October activity. >> Read CAR blog post
Sun economy stories you may have missed
A trail crew member from the Colorado Fourteener Initiative maintains a trail on the DeCaliBron loop on July 12, 2022, near Alma. (Hugh Carey, The Colorado Sun)
➔ US Forest Service won’t hire seasonal workers next year, will rely on Colorado volunteer groups to “fill gaps” With an unclear budget for 2025, the Forest Service is not planning to hire seasonal workers next year and warns volunteer groups not to expect big projects >> Read story
➔ The second Trump presidency could mean big changes for health insurance in Colorado. Repealing or substantially rewriting the Affordable Care Act could upend a number of policies in the state, while changes to Medicaid could also be far-reaching >> Read story
➔ A century-old practice allows people to use more than their normal share of Colorado River water. Researchers say it should stop. >> Read story
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Denver Broncos executive Russ Trainor shows where the public Wi-Fi access points are. Do you see it? (Andy Colwell, Special to The Colorado Sun)
➔ Denver Broncos on verge of giving fans faster internet at Mile High stadium. Who uses mobile phones at football games? More Broncos fans than ever, as Empower Field at Mile High upgrades wireless technology. >> Read story
➔ UCHealth agrees to $23 million settlement with the feds over false billing accusations. The Colorado U.S. Attorney’s Office alleged that the health system overbilled for some emergency care. UCHealth denies the claims. >> Read story
➔ Denver heat pump incentive targets multifamily, commercial buildings for more efficient heating and cooling. Stores, offices and apartment buildings are in line for $7.5 million in help to cut monthly energy bills by installing new systems >> Read story
Other working bits
➔ Pueblo cannabis company to pay state $225,000 for false claims and lying. The Bee’s Knees CBDs and its owner Joseph Leyba have settled with the Colorado Attorney General’s Office after an investigation found that the Pueblo cannabis company called some of its products “organic” that weren’t, didn’t verify shoppers’ ages online and lied about supporting conservation groups. Bee’s Knees must pay $225,000 in civil penalties that could more than double if the company fails to completely comply. >> View settlement
➔ Got towed? More than 5,000 consumers are getting checks in the mail after being identified as victims of an illegal fee collection by Wyatts Towing, which was acquired this week. The state Attorney General’s Office announced the $1 million settlement late last year and announced this month that the checks are now on the way. >> The FAQ
➔ Larger loans for underserved smaller businesses now available. As a recipient of a $60 million New Markets Tax Credit award from the U.S. Department of Treasury, the Colorado Enterprise Fund will be able to finance larger projects than its usual capacity of $10,000 to $1 million. CEF is a community development financial institution, which manages market-rate loans backed by federal and philanthropic grants or investors. The loans serve lower-income or underserved communities and small businesses that may not qualify for a traditional bank loan. A recent $7 million donation for CEF came from philanthropist MacKenzie Scott. >> Details, inquire
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➔ Fort Lupton college gets funding to train 38 truck drivers. Two programs at Aims Community College in Fort Lupton provide training to new truck drivers who need a commercial driver’s license to land decent jobs. A $137,560 grant from the U.S. Department of Transportation will cover driver safety training for 38 students to get their CDL. A second program is aimed at non-native English speakers looking for an opportunity as a professional truck driver. >> Apply
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More than halfway into his first term, Mayor Mike Johnston finally met with his own Bicycle Advisory Committee and reiterated a familiar promise: Denver can increase road safety without taking any convenience away from drivers. “We want this to be a city where it is safe and easy to get around by bike or by foot,” Johnston told Westword after the meeting. “We want to build infrastructure and a culture that makes that easier, and we think we can do that without making it more difficult for drivers.”
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The mayor is wrong. If Denver is serious about making our streets safer for everyone — people driving as well as people walking, biking, rolling or taking transit — then we have to be honest about what that requires. Real safety improvements will sometimes mean slowing cars down, reallocating space or asking drivers to take a slightly longer route. In other words, we must be willing to trade a bit of convenience for a lot of safety.
We already make this trade-off all the time. Parking in front of the fire hydrant across from my house would be extremely convenient, but I don’t do it because it would put my neighbors at risk if a fire broke out. I don’t enjoy going through security screening every time I attend a Denver City Council meeting, but I accept it because it keeps a critical public forum safe. These small inconveniences are simply part of living in a community where everyone’s well-being matters.
So why is the idea of asking drivers to accept minimal inconvenience — a few extra minutes, a block or two of walking from their parking spot to their final destination — treated as politically impossible, even when it could prevent deaths and life-altering injuries?
Will you step up to support Westword this year?
At Westword, we’re small and scrappy — and we make the most of every dollar from our supporters. Right now, we’re $20,000 away from reaching our December 31 goal of $50,000. If you’ve ever learned something new, stayed informed, or felt more connected because of Westword, now’s the time to give back.
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Denver committed to Vision Zero nearly a decade ago, pledging to eliminate traffic fatalities. Yet year after year, the death toll remains stubbornly high, topping eighty lives lost annually since the pandemic. The reason is not mysterious: City leaders have consistently prioritized driver convenience over safety, even as people continue to die on our streets.
For generations, Denver’s street designs have catered not just to driving, but to driving dangerously. The majority of streets on the city’s High Injury Network — just 5 percent of streets where half of all traffic deaths occur — are major arterials like Colfax, Federal, Colorado, Speer and Alameda. These corridors are engineered to move as many vehicles as quickly as possible. People walking and biking are left to navigate speeding traffic with minimal protection, crossing up to eight lanes just to reach the other side.
We know what works. The data is unequivocal: On streets like these, the most effective safety improvements reduce the space available for fast-moving vehicles. Road diets, narrower lanes, shorter crossings and dedicated space for sidewalks, bike lanes and bus lanes all make streets safer for everyone — including drivers — by bringing speeds down to survivable levels.
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And yet, Mayor Johnston’s recent decision to abandon the planned road diet on Alameda Avenue is only the latest example of the city retreating from proven safety measures because they might inconvenience drivers. The city noted that its revised plan for Alameda would save drivers an extra sixty seconds of driving time, compared to the original road diet.
The mayor must confront a hard truth: We cannot keep people safe without changing the status quo, and the status quo is built on prioritizing speed and convenience over human life. Denver cannot have it both ways.
So the real question for Mayor Johnston is this: How many lives is Denver willing to sacrifice to preserve driver convenience?
So far in 2025, we have lost 87 people — and counting.
NEW YORK — The NHL hits a roster freeze at 11:59 p.m. on Friday, so with defenseman Egor Zamula clearing waivers and being assigned to the American Hockey League, it left a roster spot open.
Forward Denver Barkey has been called up.
Drafted by the Flyers in the third round of the 2023 NHL draft, Barkey turned pro this season and has been impressive while skating primarily on the wing for Lehigh Valley of the AHL. The 20-year-old has 16 points (seven goals, nine assists) in 26 games for the Phantoms, primarily playing on the wing with center Lane Pederson and winger Alex Bump.
“I think right from the start, he’s played very well,” Flyers assistant general manager Brent Flahr recently told The Inquirer. “On the production side, he makes plays, he works, and the details are great. Such a smart player. He’s got to get stronger and build up his body to handle the grind and but so far, so good.
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“Down there, he’s been arguably our best forward a lot of nights, and coaches love them plays, plays a lot. He’s certainly going in the right direction.”
» READ MORE: Flyers Q&A: Brent Flahr dishes on prospects Porter Martone, Jett Luchanko, and more
Well, the direction now is east to New York City ahead of the Flyers’ matchup with the New York Rangers on Saturday afternoon (12:30 p.m., NBCSP). The kid from Ontario is in line to make his debut at the World’s Most Famous Arena.
“I call him like a little mini [Travis Konecny],” Flyers director of player development Riley Armstrong said of Barkey over the summer. “He’s all over the puck. He’s grimy when he doesn’t have the puck. He’s always working to get the puck back.
“He’s really good with his stick picking pockets, transitioning, and his eyes are up; I don’t think a little guy like that skating around, his head down, is going to last very long in the game.
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“But when you watch him go into corners, and he’s not afraid of that, he’s quick to get in, he’s quick to get out.”
Some have questioned Barkey’s size at 5-foot-10, 173 pounds, but no one questions his grit, moxie, will, and determination. Last season, he notched 25 goals and 82 points in 50 regular-season games before adding another nine goals and 20 points in 11 postseason games for London of the Ontario Hockey League.
On June 1, he captained the Knights to the Memorial Cup championship despite suffering a high-ankle sprain in the OHL Final. In the finale of the Memorial Cup, against the projected No. 1 for this June’s draft, Gavin McKenna, and Medicine Hat of the Western Hockey League, Barkey drove play and scored a pair of goals.
A month later, he was at the Flyers development camp but did not participate. He did, however, try.
“[Barkey] always comes to me every morning, ‘Hey, do you think you can get me out on the ice?’ No, no, you’re done,” Armstrong said with a chuckle in early July.
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The rest helped. He was again impressive at the Flyers’ rookie camp and in a game against their Rangers counterparts in early September in Allentown.
Barkey opened eyes with his speed, hockey IQ, puck possession and patience, and high-end passing ability. Looking completely healed from his high-ankle sprain, the forward used his quickness, leverage, and ability to win pucks to beat the defense at every turn and notched a goal.
It appears that his summer of eating Italian giant subs — Mike’s way, minus the onions — at Jersey Mike’s with his buddy, and former London teammate, Oliver Bonk, to add weight paid off. Phantoms coach John Snowden called him “a heck of a hockey player” in September.
“Continue to get bigger, stronger,” Barkey said of his summer plans at development camp. “It’s a big jump next year. I’m going to be playing against older men and strong guys. So, continuing to get stronger, faster, and I think the biggest thing is just using my brain and then finding a way to adjust. It’s a different game in pro.”
And Barkey has adjusted well to the pro ranks, skating on the wing of the Phantoms’ top line, which drives play and is relied on for offensive swings. His fellow winger, Bump, was actually the one many thought would be called up.
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The kid from Minnesota, who led Western Michigan to the NCAA championship in April, was pegged by everyone, including The Inquirer, to break camp with the Flyers; however, he was sent down after a poor main training camp. After a slow start in Lehigh Valley, he now has 20 points (seven goals, 13 assists) in 26 games in Allentown.
On the first of Bo Nix’s four touchdown passes against Green Bay, he did what he does more frequently than any quarterback in football.
Nix escaped from the pocket and took off running. He moved up and to the left before hitting Michael Bandy for a 20-yard catch-and-scamper.
The next three touchdowns, though, are where the Broncos offense can dream about a deep postseason run or even more.
Nix, operating from the gun, delivered strikes of all shapes and sizes and did so with clean footwork in the pocket.
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He identified coverage, took a short, one-step drop and fired a perfectly placed low ball to Lil’Jordan Humphrey. Then a three-step drop to get the ball up and down with beautiful pace and timing to Courtland Sutton one-on-one up the right sideline.
Nix polished off the fourth touchdown when he five-step dropped, hitched up in the pocket twice and uncorked a rocket up the seam for Troy Franklin on a motion and route concept the Broncos have made hay on most of the year.
The Packers game represented a breakout as Nix completed 23 of 34 passes for 302 yards and the four touchdowns, but his game’s been heating up more broadly over the past month.
He had an efficient day in a much different style against Las Vegas, completing 31 of 38 passes and engineering three battering-ram touchdown drives. He threw for 616 yards in the two weeks before that in wins over Washington and Kansas City.
In those four games, Nix has completed 69.5% of his passes for 282.5 yards per game and thrown five touchdowns and an interception. Before that stretch, he completed 60.9% and averaged 212 yards per game.
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What’s changed? Start from the ground up.
“I think his footwork has got a lot better,” offensive coordinator Joe Lombardi said Thursday. “And the way he handles himself in the pocket, trusting the protection. We’ve talked about it all year and the last four games he’s done a really good job of that.
“He’s moving when he needs to and he’s hanging in there when he needs to.”
Head coach Sean Payton earlier this season said the quarterbacks get some specific footwork drilling done during a normal game week but not a ton. They’ll work a particular concept or drop between periods, but for the most part, the work is plan-specific.
Nix, though, has been working on his own pocket presence in his own ways in recent weeks.
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“I think he’s probably one of the best … at learning from mistakes, and looking in the mirror and seeing what his weaknesses are,” tight end Evan Engram told The Post.
“He’s sitting in there, he’s trusting the protection, he’s letting it rip. And that’s something that he saw. And he worked on. And like – I can’t say how hard that is. I’ve never done it in my life. You’ve got freakin’ monsters rushing you, every play. And credit to the O-line, too.
The staff also appears to be doing a better job of helping get Nix into good rhythm. Part of that is by playing more frequently from under center. The touchdowns outlined above came out of shotgun, but one commonly held belief is that playing from under center helps keep footwork clean because a quarterback is forced to do it coming back from the center.
Since the Broncos returned from their bye week, the uptick has been notable.
Denver averaged 29.4% of offensive snaps under center the first 11 games. Over the past three, the number is 42.8%.
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Nix has attempted nearly half as many passes from under center the past three games (25) as he did in the first 11 (51). That’s partly because he’s playing more from under center, though Denver’s under center pass rate has also jumped up from 24.5% over the first 11 games to 29.3% the past three weeks.
Nix only completed 1 of 6 passes against Green Bay for 16 yards from under center but the week before, he was 10 of 10 for 71 yards against Las Vegas.
“Each game is different relative to when we look at gun runs, under center runs, try to self-scout ourselves enough to where there’s enough play-action maybe under center, drop back,” Payton said between Vegas and Green Bay, adding that he thought Nix made a quick transition to playing under center even though he hardly did it in college.
“I think that hasn’t been a big learning curve. I think it’s gone pretty smooth.”
Particularly since the bye week, the Broncos have leaned more and more into it. Payton and Lombardi say the usage is dependent on individual game plans.
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The longer this uptick continues, though, the more it looks like a philosophical shift.
Broncos reporter Luca Evans contributed to this story.
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