Mitt Romney is selling his Utah home.

Romney, the leader of 2002 Winter Olympics in Salt Lake City, has put his multimillion-dollar Deer Valley vacation home on the market for $5.25 million.

Also up for sale is the former GOP presidential candidate's home in Belmont, Mass., where he served a term as governor following the Olympics.

Romney spokesman Eric Fehrnstrom said Romney and his wife, Ann, are looking for a smaller home in Massachusetts, which will remain their primary residence.

"Now that their children are grown with families of their own, the Romneys have too much space, and they are simplifying and downsizing," Fehrnstrom said.

He said the Romneys are keeping a lakeside home in Wolfeboro, N.H., and a recently purchased beach house in La Jolla, Calif.

Brokerage agreements have been signed for the Utah and Massachusetts homes, Fehrnstrom said, confirming that the massive Deer Valley home is listed for $5.25 million but that no price has yet been set for the home in Belmont, home to an LDS temple.

Will Romney, who spent the three years leading up to the Olympics in Utah, find another place in the Beehive State?

"At this point they haven't made any determination on looking for another place in Utah," Fehrnstrom said.

Romney, seen as gearing up to make another run for the White House in 2012, had his biggest win in Utah during last year's Republican primary. He bested the party's eventual nominee, Arizona Sen. John McCain, with a whopping 90 percent of the vote in Utah's Feb. 5, 2008, GOP vote.