Updated

More than a week after Election Day, the race for Colorado's 3rd Congressional District remains uncalled and is likely headed to an automatic recount, but Republican Rep. Lauren Boebert's Democratic challenger conceded the election Friday.

Boebert held a threadbare lead over former Aspen City Council member Adam Frisch, a Democrat. 

As of Friday, with nearly all the votes counted, Boebert holds a 551-vote lead over Frisch out of nearly 327,000 votes cast, a difference of 0.16 percentage points. The Associated Press has deemed the race too close to call and will not do so until a potential recount happens. 

Under Colorado state law, a mandatory recount occurs when the margin of victory in an election is within half a percentage point. 

A recount in the race could take several weeks to complete. A Colorado statute instructs that a recount must be completed 35 days after the general election, which would be Dec. 13 this year. 

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Rep. Lauren Boebert running for re-election in Colorado

Rep. Lauren Boebert, R-Colo., addresses attendees at the Turning Point USA Student Action Summit in Tampa, Florida, on July 23, 2022. (AP Photo/Phelan M. Ebenhack, File)

Democrat House Candidate Adam Frisch listens to incumbent U.S. Rep. Lauren Boebert during a debate at Colorado Mesa University as part of The Club 20 political conference in Grand Junction, Colorado, on Sept. 10, 2022. (RJ Sangosti/MediaNews Group/The Denver Post)

Boebert declared victory Thursday night in a video posted on social media. 

"I'm told that there are less than 200 votes outstanding, which makes me so happy to announce we have won this race!" Boebert said. "With this victory and with Republicans in control of the House of Representatives, we can focus on the issues that actually matter most, including getting inflation under control, increasing our domestic energy supply, securing the southern border, and being a strong check on the White House." 

Acknowledging the likely recount, Boebert said her campaign and her lawyers "will definitely make sure everything is conducted properly," predicting that the outcome would not change. 

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Her Democratic opponent, Frisch, told his supporters to "stay tuned" in a message thanking the volunteers working to count ballots. 

"The volunteers who have spent hours — including sleepless nights — getting ballots cured & counted in #CO03 deserve the nation’s thanks as they complete one of the most democratic processes in the world and ensure the integrity of our elections," Frisch tweeted. 

"The outpouring of support from around the country and even the world since Election Day has been overwhelming & humbling. Running in this race, getting to know so many people in my district & hearing your stories has been an honor of a lifetime." 

Later Friday, Frisch held a press conference and announced he had called Boebert to concede the race. Noting that his campaign did not ask for a recount, which is mandated by law, he called Colorado elections "safe, accurate, and secure," and told his supporters it would be "unethical" to continue raising funds for an effort that had little chance of reversing the results. 

Frisch again thanked his supporters and volunteers and remarked that his campaign showed how Democrats need to reach voters in rural parts of America. 

"The Democratic Party has slowly but surely eroded the trust of rural and working class Americans. Denver and D.C. politicians need to demonstrate an understanding of the issues that face rural America, working class America, and celebrate, not disrespect, folks across the country," Frisch said. 

HOUSE GOP TO VOTE ON NOMINATING MCCARTHY FOR SPEAKER, BUT HIS CANDIDACY WON'T BE SECURED UNTIL JANUARY

House of Representatives chamber

The chamber of the House of Representatives is seen at the Capitol in Washington, D.C., on Feb. 28, 2022. (AP Photo/J. Scott Applewhite, File)

The margin in Colorado's 3rd Congressional District was far closer than expected and illustrative of how Republicans vastly underperformed projections of a "red wave" in the midterm elections. 

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The outcome of the race will not affect which party controls Congress. Republicans secured a majority on Wednesday after The Associated Press projected that Republican Mike Garcia will win re-election in California's 27th Congressional District, giving the GOP 218 seats in the House of Representatives.

Republican leader Rep. Kevin McCarthy, R-Calif., won his party's nomination to be the next speaker of the House, with former President Donald Trump's endorsement, building a broad coalition of support from moderates like Rep. Brian FitzPatrick, R-Pa., and firebrands like Rep. Marjorie Taylor Greene, R-Ga. 

Fox News' Thomas Phippen contributed to this report.