What $1 Million Buys You in Today's Housing Market

If you're looking for evidence of an improving economy, look no further than the upper end of the U.S.

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Patricia Mertz Esswein
By Patricia Mertz Esswein
published

If you're looking for evidence of an improving economy, look no further than the upper end of the U.S. housing market. Sales of existing homes priced in the $1 million range grew at an 18.4% clip in the year ending in January 2016, according to the National Association of Realtors. Steady demand is leading to more sales of high-end homes. That encourages more high-end homeowners to list their own homes for sale, because they're confident they'll find another one to buy. Inventory in this price range increased nearly 15% nationwide.

A million bucks may sound like the ticket to a huge house with plenty of land and all the amenities. But these days, what you'll get in this price range varies dramatically depending on where you shop. We've rounded up 14 million-dollar properties for sale across the country, from a townhouse in Brooklyn and a fixer-upper in San Francisco to a ranch in Colorado and an island escape in New Hampshire. One bright spot for serious shoppers: The stock market's volatility has spooked at least some prospective buyers, real-estate agents say, so you may encounter less competition for the nicest properties. Please take our tour.

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Kihei, Hawaii
(Image credit: Courtesy: Maui Real Estate Advisors LLC)

Kihei, Hawaii

Built in 1992, this condo is located in south Maui, the middle island in the Hawaiian archipelago. The low-rise, gated resort community on 14.5 acres has ocean and outer-island views, and you can walk to white-sand Keawakapu Beach. The unit is senior-friendly -- single-story, with no steps inside or out -- and has its own parking adjacent to its entrance. It also has a lanai (covered patio) and barbecue with a Fire Magic grill and granite counter outside the kitchen pass-through. Furnishings are negotiable. The community offers a salt-water pool with spa and access to golf and tennis facilities in the area.

See more listings in this area on Trulia.

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Anchorage, Alaska
(Image credit: Courtesy: RE/MAX Dynamic Properties)

Anchorage, Alaska

  • Square footage: 2,373
  • Bedrooms: 3
  • Bathrooms: 3
  • Acreage: 0.28
  • Listed for: $1.1 million
  • Taxes in 2015: $7,914

Built in 2003, this home was designed by John Rattenbury, a protégé of Frank Lloyd Wright. It's located at the back of a cul-de-sac in the gated community of Atwood. The house features hardwood floors and a contemporary kitchen, with stainless steel appliances, a gas cooktop and granite countertops. Winter's nicer because of fireplaces in the great room and walkout master suite, a heated driveway and an attached, heated two-car garage.

See more listings in this area on Trulia.

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San Francisco
(Image credit: Courtesy: Pacific Union International, Holmes Burrell)

San Francisco

This home was built in 1965 by Joseph Eichler, a California real estate developer known for building tract housing in the Mid-Century Modern style for the middle class. The development is located in the Diamond Heights neighborhood, a few miles southwest of downtown and close to Glen Canyon Park. The house hasn't been updated, but features open living areas, substantial beams, wood ceilings and walls, and glass that lets in plenty of light and views of the surrounding hills. It includes a front deck, a rear garden, a two-car garage and a large storage area.

See more listings in this area on Trulia.

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Longmont, Colo.
(Image credit: Courtesy: RE/MAX Alliance -- Longmont)

Longmont, Colo.

  • Square footage: 4,343
  • Bedrooms: 5
  • Bathrooms: 4 full, 1 half
  • Acreage: 14.77
  • Listed for: $950,000
  • Taxes in 2015: Unavailable

Located between Boulder and Fort Collins, about 40 miles north of Denver, this working ranch comes with the Rockies as a scenic backdrop. The property includes four pastures, three loafing sheds (where horses in pastures or paddocks can get out of the rain or sun), a two-stall barn, an auxiliary barn, a hay barn, a chicken coop, a garden, a shop and a detached, four-car garage. Built in 1978, the home provides plenty of room with two updated kitchens, a master suite, a great room, a family room, a living room and a rec room. It's a good example of how much further $1 million goes when you get out of exotic locales and densely populated cities.

See more listings in this area on Trulia.

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Rogers, Ark.
(Image credit: Courtesy: Coldwell Banker Harris McHaney & Faucette)

Rogers, Ark.

  • Square footage: 4,088
  • Bedrooms: 4
  • Bathrooms: 3
  • Acreage: 0.37
  • Listed for: $950,000
  • Taxes in 2015: Unavailable
  • SEE ALSO: 9 Tiny Homes You'll Love

This home is located in the gated golf community of Pinnacle, just outside Bentonville, where Walmart is headquartered, in the northwest corner of the state.

Built in 2001, the house features a large, eat-in kitchen with stainless appliances, granite countertops, and a six-burner, two-oven gas range, as well as a 500-bottle wine room. Outside, there's a balcony, a patio and an attached, three-car garage. The community also has a clubhouse, a pool, tennis, an exercise room and private security.

See more listings in this area on Trulia.

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San Antonio
(Image credit: Courtesy: Coldwell Banker D'Ann Harper, REALTORS)

San Antonio

  • Square footage: 5,687
  • Bedrooms: 5
  • Bathrooms: 4 full, 1 half
  • Acreage: 2
  • Listed for: $975,000
  • Taxes in 2015: $24,785

This home is located in Hill Country Village, a tiny town surrounded by the city of San Antonio and about 15 miles north of downtown. Built in 1977, the two-story home has a stone exterior with private balconies and a two-car garage. The eat-in kitchen has custom cabinetry, solid-surface counters, a Sub-Zero refrigerator and a double wall oven. Flooring includes Saltillo (Mexican terra-cotta) tile and flagstone.

The outside is like a private resort, with a deck, a saltwater pool, tennis courts, a baseball diamond, an outdoor shower, exotic landscaping and a privacy fence.

See more listings in this area on Trulia.

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Milwaukee, Wis.
(Image credit: Courtesy: Shutter Op by Burton Davis)

Milwaukee, Wis.

Located in the popular Historic Third Ward in downtown Milwaukee, this Point on River high-rise overlooks the Milwaukee River with water and downtown skyline views, as well as access to a marina and boat slips. Built in 2008, the unit was the builder's model so it includes lots of upgrades. The kitchen is outfitted with Sub-Zero and Wolf appliances. The unit includes two master suites, two balconies, a gas fireplace, electronic window shades and a large laundry room.

The building is full-service, with a concierge, business center, fitness center, private screening theater, social networking lounge and heated indoor parking. The unit includes 2.5 parking spaces (the extra width accommodates a motorcycle, kayak or bicycles) and three storage rooms. The condo fee is $1,168 a month.

See more listings in this area on Trulia.

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Gilford, N.H.
(Image credit: Courtesy: RE/MAX Bayside)

Gilford, N.H.

  • Square footage: 1,194
  • Bedrooms: 2
  • Bathrooms: 2
  • Acreage: 0
  • Listed for: $998,000
  • Taxes in 2015: $4,730

Eagle Island, on Lake Winnipesaukee, is about nine miles from Laconia, in central New Hampshire. Built in 1918, the two-story lake house includes a fieldstone fireplace, a second-floor master suite and laundry facilities. The septic system is state-of-the-art and just a few years old. The property includes three decks -- one on the water -- and a patio, a level lot with a sandy beach, stone walls and a covered breakwater (floating) dock for four boats.

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Brooklyn, N.Y.
(Image credit: Courtesy: Compass, New York)

Brooklyn, N.Y.

A zip code this close to Manhattan comes with a price tag. Built in 1910, this row home is located in the Windsor Terrace neighborhood, between Green-Wood Cemetery, Prospect Park and Greenwood Playground. There are six rooms -- three on the main level and three bedrooms upstairs. The finished basement includes a walk-in closet and half bath. The rear patio is paved and has privacy fencing.

See more listings in this area on Trulia).

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Pittsburgh
(Image credit: Courtesy: Howard Hanna Upper St. Clair)

Pittsburgh

  • Square footage: 4,000
  • Bedrooms: 2
  • Bathrooms: 2 full, 1 half
  • Acreage: 0.06
  • Listed for: $998,000
  • Taxes in 2015: Unavailable

Located in Mount Washington, across the Monongahela River on a ridge overlooking downtown Pittsburgh, this home offers great views from inside and from its rooftop deck. Built in 1999, the three-story house has a commercial-grade kitchen with stainless appliances and granite countertops, a dining room that overlooks a two-story great room with a wall of windows, a gas fireplace and a balcony. The master suite is on the second floor. The house has an elevator and a two-car garage.

See more listings in this area on Trulia.

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Essex, Md.
(Image credit: Courtesy: Long & Foster -- Kent Island)

Essex, Md.

This home is located on an isthmus bounded by the Chesapeake Bay and the Middle River, about 12 miles east of downtown Baltimore. Built in 1969, the home has three levels, two kitchens and a fireplace. The walkout lower level could be an au pair or in-law suite. The property includes 150 feet of water frontage and a pier with five boat slips.

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Asheville, N.C.
(Image credit: Courtesy: Preferred Properties of Asheville, N.C.)

Asheville, N.C.

  • Square footage: 4,430
  • Bedrooms: 4
  • Bathrooms: 3 full, 1 half
  • Acreage: 0.68
  • Listed for: $998,000
  • Taxes in 2015: $5,281

Located in Biltmore Lake, a master-planned community about 10 miles southwest of Asheville, this home overlooks the lake and surrounding mountains. It's near the Blue Ridge Parkway, Pisgah National Forest and the French Broad River. Custom-built in 2004, this three-story home has an eat-in kitchen, a great room with a fireplace, a second-floor master suite that overlooks the lake, a first-floor laundry and guest suite, front and back staircases, and an attached two-car garage.

The community has a clubhouse, playground, recreation area, tennis courts and walking trails. The quarterly homeowners association fee is $375.

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Bonita Springs, Fla.
(Image credit: Courtesy: Bonita Luxury Properties)

Bonita Springs, Fla.

This home backs to the golf course in the gated Pelican Landing development of Bonita Springs, about halfway between Fort Myers and Naples, on Florida's southwest coast. Built in 1993, the house has an open floor plan, vaulted ceilings, a master suite and a second-story loft. The kitchen has new, stainless appliances and granite countertops. The three-car garage is attached. Electric and manual storm shutters are included. Outside, the large, screened lanai has a summer kitchen with a built-in grill, a pool with spa, an outdoor shower and ceiling fans. The community provides beach access, a community boat ramp, a private beach pavilion, a sailing center, tennis courts, 36-hole, Tom Fazio-designed golf course (membership fee required), a bike and jog path, and a fitness center.

See more listings in this area on Trulia.

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Carlsbad, Calif.
(Image credit: Courtesy: Sea Coast Exclusive Properties)

Carlsbad, Calif.

  • Square footage: 2,716
  • Bedrooms: 3
  • Bathrooms: 3
  • Acreage: under 0.25
  • Listed for: $985,000
  • Taxes in 2015: $10,029

Located 40 miles north of downtown San Diego and just four miles from the beach, this one-story home is part of the La Costa Valley master-planned community.

An original builder's model with upgrades (built in 2001), it features an open floor plan, a kitchen with granite countertops and stainless appliances, wood and travertine mosaic-tile floors, plantation shutters, crown molding and surround sound in the family room. The patio has a spa, and the attached, three-car garage is finished.

The community has its own preschool and kindergarten, and a private recreational complex with a gated swimming facility, tennis courts and a fitness gym.

See more listings in this area on Trulia.

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Patricia Mertz Esswein
Patricia Mertz Esswein
Contributing Writer, Kiplinger's Personal Finance
Esswein joined Kiplinger in May 1984 as director of special publications and managing editor of Kiplinger Books. In 2004, she began covering real estate for Kiplinger's Personal Finance, writing about the housing market, buying and selling a home, getting a mortgage, and home improvement. Prior to joining Kiplinger, Esswein wrote and edited for Empire Sports, a monthly magazine covering sports and recreation in upstate New York. She holds a BA degree from Gustavus Adolphus College, in St. Peter, Minn., and an MA in magazine journalism from the S.I. Newhouse School at Syracuse University.
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