Even though Utah is one of the top states to see the biggest downward correction on home prices amid the U.S. housing market slowdown thanks to high interest rates, big-dollar homes are still selling in the state’s most desirable areas.

Utah’s housing prices shot up amid the pandemic housing frenzy (rising by almost 50% since the spring of 2020), and even though they’ve tapered slightly this year, housing costs are still out of reach for many Utahns. Some neighborhoods come with a higher premium than others.

Utah home prices are down from 2022, but climbing. Have they already hit bottom?
Boise housing market down the most in U.S. These Utah markets rank close behind

While many of the Wasatch Front’s most affordable areas are located either west of the state’s main freeway, I-15, or 30 to 40 miles north of Salt Lake City in Weber County, areas close to Utah’s iconic canyons are among the priciest in the Salt Lake Valley.

That’s according to the latest information from the Salt Lake Board of Realtors, which shared with the Deseret News its data for prices of homes sorted by ZIP code in the second quarter of 2023.

Using the Salt Lake Board of Realtors’ data, the Deseret News ranked the top 10 areas with the most expensive median single-family homes in the Wasatch Front, which includes Salt Lake, Utah, Davis, Weber and Tooele counties.

This list excludes Utah’s wealthiest county located off the Wasatch Front in Summit County, home to ski mecca Park City, host of the annual star-studded film festival, Sundance, and many of Utah’s multi-million dollar, luxury homes.

Most expensive homes in Utah Wasatch Front

The priciest single-family homes sold in the second quarter of 2023 were located in Alpine, a Utah County suburb known for its big houses nestled in the foothills just north of American Fork Canyon.

In Alpine’s 84004 ZIP code, the median single-family home price dropped to $1,165,000 in the second quarter of 2023, a 13.7% decline from the area’s median price of $1,350,000 a year ago, according to the Salt Lake Board of Realtors’ data.

The second-most-expensive homes sold in Huntsville, near Pineview Reservoir and the ski resorts Snowbasin and Powder Mountain. Following close behind were ZIP codes in Huntsville’s neighboring Eden, as well as Salt Lake City’s desirable east bench neighborhoods such as the Avenues, and areas in Sandy and Draper, suburbs located near the base of Little Cottonwood Canyon.

Many of these ZIP codes saw year-over-year price declines, some more dramatic than others, but some actually saw price increases, likely due to the area’s desirability and tight housing inventory.

Here’s the ranking:

  1. Alpine, Utah County (84004): $1,165,000, down 13.7% from the second quarter of 2022.
  2. Huntsville, Weber County (84317): $1,039,000, down nearly 30.7%.
  3. Salt Lake City, Salt Lake County (84108): $1,017,500, up 10%.
  4. Eden, Weber County (84310): $996,500, down 11.4%.
  5. Salt Lake City, Salt Lake County (84103): $879,525, up 1.1%.
  6. Draper, Salt Lake County (84020): $876,250, down 0.7%.
  7. Sandy, Salt Lake County (84092): $875,000, down 0.6%
  8. Mapleton, Utah County (84664): $859,403, up 9.5%
  9. Holladay, Salt Lake County (84117): $852,500, up 1.13%
  10. Holladay, Salt Lake County (84124): $847,500, down 4.78%
Home prices still too high for many, but here are the top 5 most affordable ZIP codes near Salt Lake