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By
The Salt Lake Tribune
Published July 20, 2026 at 12:48 PM MDT
Bethany Baker
/
The Salt Lake Tribune
Price is king for the typical Utahn looking to buy a home, but luxury homebuyers are focused on locations that fit their lifestyle — and in Utah, the high-end housing market is doing well
A report on the outlook of the state’s luxury real estate market from Sotheby’s describes the overall housing market in the U.S. as “sluggish,” while the luxury market shows “continued signs of strength.”
Utah’s general housing market across the Wasatch Front has started to stagnate and recover, said Scott Colemere, president of the Salt Lake Board of Realtors and principal broker at Colemere Realty Associates, but first-time homebuyers need more properties
Yet housing opportunities abound even for people entering the state’s luxury market, said agents with Summit Sotheby’s International Realty
“There’s been so much wealth creation in the last few years,” said Gretchen Hudgens, an agent with Summit Sotheby’s who also is president of the Park City Board of Realtors
And rather than waiting decades to inherit wealth, she said, younger buyers are increasingly entering the luxury market with financial help from parents, allowing them to purchase resort homes earlier in life
Read the full article by Megan Banta at sltrib.com
This article is published through the Utah News Collaborative, a partnership of news organizations in Utah that aims to inform readers across the state
