The number of American houses worth $1 million is at an all-time high, as home prices continue to hit new records.
While million-dollar homes are out of reach for the vast majority of Americans, they are no longer just being bought and sold by the ultra-wealthy. In San Francisco, the median-priced home sells for more than $1.6 million – far above the national median of $441,000. Meanwhile, in Detroit, $1 million listings are rare.
Today, there are only seven major metros where a luxury home — valued in the top 5% of homes — costs less than $1 million, compared to 30 just five years ago.
"The $1 million mark used to signal true luxury; now, in many parts of the country, it simply means the price of a typical home," said Jonathan Huffer, a Redfin Premier agent specializing in luxury properties in Palm Beach, Florida. "It's a reflection of how dramatically home prices have risen, especially in coastal markets where million-dollar listings have become the norm rather than the exception."
So, are you wondering what $1 million buys in today's market? Redfin Real Estate pulled from its listings to see how far it goes in Pensacola. Listings between $500,000 and $1,000,000 were included.
5450 N Shore Rd, Pensacola
- Price: $999,999
- 3 bedrooms, 2 bathrooms
- Square feet: 2,610
- Price per square foot: $383
- See 5450 N Shore Rd, Pensacola on Redfin.com
431 E Zarragossa St Unit B, Pensacola
- Price: $999,800
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,000
- Price per square foot: $333
- See 431 E Zarragossa St Unit B, Pensacola on Redfin.com
14500 River Rd #101, Pensacola
- Price: $999,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 2,371
- Price per square foot: $421
- See 14500 River Rd #101, Pensacola on Redfin.com
16787 Perdido Key Dr Unit C202, Pensacola
- Price: $998,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,364
- Price per square foot: $731
- See 16787 Perdido Key Dr Unit C202, Pensacola on Redfin.com
13936 Playa Way, Pensacola
- Price: $995,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,382
- Price per square foot: $417
- See 13936 Playa Way, Pensacola on Redfin.com
1619 E De Soto St, Pensacola
- Price: $990,000
- 5 bedrooms, 4.5 bathrooms
- Square feet: 3,316
- Price per square foot: $298
- See 1619 E De Soto St, Pensacola on Redfin.com
2043 Crown Pointe Blvd, Pensacola
- Price: $988,500
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,156
- Price per square foot: $458
- See 2043 Crown Pointe Blvd, Pensacola on Redfin.com
522 W Belmont St, Pensacola
- Price: $975,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 2,685
- Price per square foot: $363
- See 522 W Belmont St, Pensacola on Redfin.com
14500 River Rd #406, Perdido Key
- Price: $975,000
- 3 bedrooms, 3.5 bathrooms
- Square feet: 2,434
- Price per square foot: $400
- See 14500 River Rd #406, Perdido Key on Redfin.com
16785 Perdido Key Dr #308, Pensacola
- Price: $975,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,763
- Price per square foot: $553
- See 16785 Perdido Key Dr #308, Pensacola on Redfin.com
13601 Perdido Key Dr Unit W1D, Perdido Key
- Price: $975,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,738
- Price per square foot: $560
- See 13601 Perdido Key Dr Unit W1D, Perdido Key on Redfin.com
13601 Perdido Key Dr Unit 1D, Perdido Key
- Price: $975,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,738
- Price per square foot: $560
- See 13601 Perdido Key Dr Unit 1D, Perdido Key on Redfin.com
856 Sailfish Ct, Pensacola
- Price: $950,000
- 5 bedrooms, 3.5 bathrooms
- Square feet: 2,737
- Price per square foot: $347
- See 856 Sailfish Ct, Pensacola on Redfin.com
17 S Palafox Pl #208, Pensacola
- Price: $950,000
- 2 bedrooms, 2.5 bathrooms
- Square feet: 1,251
- Price per square foot: $759
- See 17 S Palafox Pl #208, Pensacola on Redfin.com
300 W Gonzalez St, Pensacola
- Price: $949,999
- 4 bedrooms, 3.5 bathrooms
- Square feet: 4,546
- Price per square foot: $208
- See 300 W Gonzalez St, Pensacola on Redfin.com
10165 Noriega Ln, Pensacola
- Price: $949,000
- 5 bedrooms, 3.5 bathrooms
- Square feet: 3,991
- Price per square foot: $237
- See 10165 Noriega Ln, Pensacola on Redfin.com
1700 Scenic Hwy #604, Pensacola
- Price: $949,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,303
- Price per square foot: $412
- See 1700 Scenic Hwy #604, Pensacola on Redfin.com
1519 E Desoto St, Pensacola
- Price: $925,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,887
- Price per square foot: $320
- See 1519 E Desoto St, Pensacola on Redfin.com
880 Paradise Beach Cir, Pensacola
- Price: $925,000
- 4 bedrooms, 3 bathrooms
- Square feet: 2,432
- Price per square foot: $380
- See 880 Paradise Beach Cir, Pensacola on Redfin.com
13599 Perdido Key Dr Unit T9A, Perdido Key
- Price: $925,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,756
- Price per square foot: $526
- See 13599 Perdido Key Dr Unit T9A, Perdido Key on Redfin.com
8926 Salt Grass Dr, Pensacola
- Price: $924,900
- 4 bedrooms, 3 bathrooms
- Square feet: 2,882
- Price per square foot: $320
- See 8926 Salt Grass Dr, Pensacola on Redfin.com
8844 Scenic Hwy, Pensacola
- Price: $899,900
- 5 bedrooms, 4 bathrooms
- Square feet: 3,722
- Price per square foot: $241
- See 8844 Scenic Hwy, Pensacola on Redfin.com
13621 Perdido Key Dr Unit 1504-E, Perdido Key
- Price: $899,900
- 2 bedrooms, 2 bathrooms
- Square feet: 1,381
- Price per square foot: $651
- See 13621 Perdido Key Dr Unit 1504-E, Perdido Key on Redfin.com
13621 Perdido Key Dr #1403, Perdido Key
- Price: $899,900
- 2 bedrooms, 2.5 bathrooms
- Square feet: 1,314
- Price per square foot: $684
- See 13621 Perdido Key Dr #1403, Perdido Key on Redfin.com
1806 N Barcelona St, Pensacola
- Price: $899,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 3,195
- Price per square foot: $281
- See 1806 N Barcelona St, Pensacola on Redfin.com
13661 Perdido Key Dr #1506, Perdido Key
- Price: $899,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,935
- Price per square foot: $464
- See 13661 Perdido Key Dr #1506, Perdido Key on Redfin.com
13599 Perdido Key Dr Unit T10D, Perdido Key
- Price: $899,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,756
- Price per square foot: $511
- See 13599 Perdido Key Dr Unit T10D, Perdido Key on Redfin.com
14511 Perdido Key Dr #1301, Pensacola
- Price: $899,000
- 3 bedrooms, 3 bathrooms
- Square feet: 1,597
- Price per square foot: $562
- See 14511 Perdido Key Dr #1301, Pensacola on Redfin.com
432 Bayfront Pkwy Unit C, Pensacola
- Price: $895,000
- 2 bedrooms, 2.5 bathrooms
- Square feet: 2,007
- Price per square foot: $445
- See 432 Bayfront Pkwy Unit C, Pensacola on Redfin.com
13599 Perdido Key Dr Unit TPH2C, Perdido Key
- Price: $890,900
- 3 bedrooms, 3 bathrooms
- Square feet: 1,676
- Price per square foot: $531
- See 13599 Perdido Key Dr Unit TPH2C, Perdido Key on Redfin.com
$1 million dollar homes in major cities around the country
215 W Illinois St Unit 2B-2C, Chicago
- Price: $1,000,000
- 3 bedrooms, 3 bathrooms
- Square feet: 4,396
- Price per square foot: $227
- See 215 W Illinois St Unit 2B-2C, Chicago on Redfin.com
5435 Preston Fairways Cir, Dallas
- Price: $1,000,000
- 3 bedrooms, 3.5 bathrooms
- Square feet: 4,392
- Price per square foot: $227
- See 5435 Preston Fairways Cir, Dallas on Redfin.com
2956 W Avenue 35, Los Angeles
- Price: $1,000,000
- 4 bedrooms, 2 bathrooms
- Square feet: 1,662
- Price per square foot: $601
- See 2956 W Avenue 35, Los Angeles on Redfin.com
6049 SW 165th Ave, Miami
- Price: $1,000,000
- 5 bedrooms, 4 bathrooms
- Square feet: 3,153
- Price per square foot: $317
- See 6049 SW 165th Ave, Miami on Redfin.com
206 E 95th St Unit 12B, New York City
- Price: $1,000,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,001
- Price per square foot: $999
- See 206 E 95th St Unit 12B, New York City on Redfin.com
3070 61st Ave SW, Seattle
- Price: $1,000,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 1,670
- Price per square foot: $598
- See 3070 61st Ave SW, Seattle on Redfin.com
This story was produced by Redfin Real Estate and reviewed and distributed by Stacker.
