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What’s Working: More than half of Denver-area homes sold last month offered a concession

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What’s Working: More than half of Denver-area homes sold last month offered a concession



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.”

A sign showing a house for sale in Colorado Springs
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.

chart visualization

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


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

➔ 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

Got some economic news or business bits Coloradans should know? Tell us: cosun.co/heyww


This year has sped by. Thanks to readers who continue to check out this weekly economic update and special thanks to those who support our work at The Colorado Sun. We’re currently getting a match for any donations that come in through the end of the year. Donate and your support is doubled at coloradosun.com/donate! Thanks in advance! ~ tamara

Miss a column? Catch up:


What’s Working is a Colorado Sun column about surviving in today’s economy. Email tamara@coloradosun.com with stories, tips or questions. Read the archive, ask a question at cosun.co/heyww and don’t miss the next one by signing up at coloradosun.com/getww.

Support this free newsletter and become a Colorado Sun member: coloradosun.com/join

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Notice something wrong? The Colorado Sun has an ethical responsibility to fix all factual errors. Request a correction by emailing corrections@coloradosun.com.

Type of Story: News

Based on facts, either observed and verified directly by the reporter, or reported and verified from knowledgeable sources.



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Denver, CO

Flyers forward Denver Barkey called up as NHL rosters head toward holiday freeze

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Flyers forward Denver Barkey called up as NHL rosters head toward holiday freeze


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.



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Denver, CO

Bo Nix’s footwork is “a lot better” as he plays under center more. Coincidence?

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Bo Nix’s footwork is “a lot better” as he plays under center more. Coincidence?


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.



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Denver, CO

Nikola Jokic passes Kareem Abdul-Jabbar for most assists by center in NBA history as Nuggets beat Magic

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Nikola Jokic passes Kareem Abdul-Jabbar for most assists by center in NBA history as Nuggets beat Magic


For his latest trick, Nikola Jokic dribbled into oncoming traffic and escaped unscathed.

Sometimes after he reels in a defensive rebound, the Nuggets center prefers to launch an aerial attack with one of his long outlet passes. This time, he brought the ball with him up on his usual route up the middle of the floor. Magic center Wendell Carter Jr. trailed him by a step. Up ahead, Tyus Jones veered into his lane from the left, sensing an opportunity to pick the pocket of a lumbering big man.

But Jokic is nimble. Before Jones could cut across his front side, he anticipated the attempted swipe and transferred his dribbling hand with a behind-the-back move that shouldn’t have looked so graceful. Jones whiffed. Carter caught up, but Jokic decelerated to allow him to pass. Then the newly minted best passing center of all time went behind the back again — this time, a dime to Jamal Murray, who finished the play with a lefty floater.

Denver’s stars were just showing off at that point in the third quarter of a 126-115 win over the Magic that wasn’t always so smooth-sailing.

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DENVER , CO – DECEMBER 18: Nikola Jokic (15) of the Denver Nuggets passes behind his back as Tyus Jones (2) of the Orlando Magic watches during the third quarter at Ball Arena in Denver, Colorado on Thursday, December 18, 2025. (Photo by AAron Ontiveroz/The Denver Post)

It was a monumental night. At 30 years old and 302 days, Jokic passed Kareem Abdul-Jabbar on Thursday for the most assists by a center in NBA history. Coming into the game, all he needed was six to match Abdul-Jabbar’s career total of 5,660. He finished the evening with 13, highlighting a 23-point, 11-rebound triple-double.

“For those of us that love the history of the game, that one should be wrote about and talked about, and that should be a national story,” Nuggets coach David Adelman said. “Because that’s passing a guy that you could argue — if you just want to go by generations and not, ‘Who’s the best player of all time?’ and all the talk-talk stuff — Kareem is in the conversation. Look at his MVPs. Look at the winning. And our guy tonight from Denver just passed him in a category.”

“This is a time that I can be able to look back and appreciate all the years I’ve had to play this game with him,” Murray said. “It’s special. Passing Kareem in anything is pretty cool. So I think it just speaks to his greatness and how unselfish he is.”

Jokic has also passed other Hall of Famers including Michael Jordan and Allen Iverson on the all-time list this season, now ranking 50th overall in career assists. Next up for him to catch is another legendary passer, Larry Bird. Jokic is 28 away from tying him.

“I always say the assist makes two people happy (instead of one). My coach ‘Deki,’ he always said that,” Jokic said Thursday, paying homage to the late Golden State Warriors and Mega Basket coach Dejan Milojevic.

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“Maybe it’s not a splashy pass or whatever,” the three-time MVP continued, “but I think when you make the right play, you’re going to feel good about yourself.”

Adelman was especially adamant about the historical significance of the occasion. He gave Jokic the game ball in Denver’s locker room after the win.

“It’s such a cool thing, because it’s Kareem, who was passed by LeBron (James) as the all-time leading scorer, which puts in perspective who Nikola passed,” Adelman said. “So it’s a celebration of both people. It’s somebody that completely changed the game. The sky hook. The longevity. … I feel like in the modern era, we talk about Tom Brady and all these people. But go look at Kareem. The guy changed his name while he played. The guy plays 20-plus years and, until the very end, was impactful on teams that went to the Finals. So for Nikola to pass him, I think, says a lot. And if we’re going to celebrate what LeBron did, (we should celebrate this also). And I know it’s a different kind of thing because it’s a center, it’s a position. I’ll just keep saying it. Just don’t get tired of this, because it’s unique.”

Jokic is also closing in on Oscar Robertson for second all-time in triple-doubles. Thursday was his 177th, bringing him within four of the iconic guard. He became the first center in league history to average a triple-double last season, and he’s on pace to do so again this year with 29.8 points, 12.4 rebounds and 10.8 assists per game.

Orlando called a timeout after Jokic and Murray combined for that saucy transition bucket in the third quarter. As they sauntered to the huddle, Nuggets assistant coaches Ognjen Stojakovic and JJ Barea could only laugh at the duo’s skill and panache.

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DENVER , CO - DECEMBER 18: Assistant coach Ognjen Stojakovic laughs as the Orlando Magic take a timeout during the fourth quarter of the Nuggets' 126-115 win at Ball Arena in Denver, Colorado on Thursday, December 18, 2025. (Photo by AAron Ontiveroz/The Denver Post)
DENVER , CO – DECEMBER 18: Assistant coach Ognjen Stojakovic laughs as the Orlando Magic take a timeout during the fourth quarter of the Nuggets’ 126-115 win at Ball Arena in Denver, Colorado on Thursday, December 18, 2025. (Photo by AAron Ontiveroz/The Denver Post)

“That’s how kind of we made our staple in that second unit growing up, was just the give-and-go,” Murray said of Jokic’s passing. “… A lot of give-and-go, and you could see his court vision and his fluidity.”

The Nuggets did most of their work Thursday during an astonishing second quarter. They flipped a 47-33 deficit with a 35-7 run that only took the last 6:26 of the first half. Murray scored 20 of his 32 points in the frame. Reserve point guard Jalen Pickett ignited the comeback and was a plus-26 in eight minutes of playing time that quarter.

Both teams were short-handed at Ball Arena. Orlando was fending without Franz Wagner and Jalen Suggs. Denver was down three of its best defenders with Peyton Watson (right trunk contusion) ruled out shortly before tip, joining Christian Braun and Aaron Gordon on the shelf.

In Watson’s place, Bruce Brown started his first game as a Denver Nugget since April 9, 2023. David Adelman used 10 of his 11 available players, including Julian Strawther, who was cleared to play earlier this week after missing a month with a back injury.



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