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 Panama City. Listings between $500,000 and $1,000,000 were included.

2457 Pretty Bayou Cir, Panama City
- Price: $999,000
- 3 bedrooms, 2 bathrooms
- Square feet: 2,199
- Price per square foot: $454
- See 2457 Pretty Bayou Cir, Panama City on Redfin.com

365 Confidence Way, Panama City
- Price: $989,000
- 5 bedrooms, 3 bathrooms
- Square feet: 3,051
- Price per square foot: $324
- See 365 Confidence Way, Panama City on Redfin.com

1425 Buttonsage Ave, Panama City
- Price: $957,951
- 4 bedrooms, 3 bathrooms
- Square feet: 3,212
- Price per square foot: $298
- See 1425 Buttonsage Ave, Panama City on Redfin.com

3438 Token Rd, Panama City
- Price: $949,000
- 6 bedrooms, 5 bathrooms
- Square feet: 3,814
- Price per square foot: $248
- See 3438 Token Rd, Panama City on Redfin.com

2750 Edwards Rd Rd, Southport
- Price: $949,000
- 5 bedrooms, 3.5 bathrooms
- Square feet: 3,003
- Price per square foot: $316
- See 2750 Edwards Rd Rd, Southport on Redfin.com

542 Mills Ln, Panama City
- Price: $949,000
- 4 bedrooms, 2.5 bathrooms
- Square feet: 2,800
- Price per square foot: $338
- See 542 Mills Ln, Panama City on Redfin.com

89 Fedora Dr, Panama City
- Price: $939,900
- 4 bedrooms, 3 bathrooms
- Square feet: 3,155
- Price per square foot: $297
- See 89 Fedora Dr, Panama City on Redfin.com

7331 Sapp Dr, Panama City
- Price: $899,900
- 4 bedrooms, 3 bathrooms
- Square feet: 4,901
- Price per square foot: $183
- See 7331 Sapp Dr, Panama City on Redfin.com

337 Watson Bayou Cir, Panama City
- Price: $895,000
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,200
- Price per square foot: $279
- See 337 Watson Bayou Cir, Panama City on Redfin.com

401 Massalina Dr, Panama City
- Price: $887,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,776
- Price per square foot: $499
- See 401 Massalina Dr, Panama City on Redfin.com

3035 Jenks Ave, Panama City
- Price: $875,000
- 3 bedrooms, 2 bathrooms
- Square feet: 2,194
- Price per square foot: $398
- See 3035 Jenks Ave, Panama City on Redfin.com

1333 Buttonsage Ave, Panama City
- Price: $840,538
- 4 bedrooms, 3.5 bathrooms
- Square feet: 3,212
- Price per square foot: $261
- See 1333 Buttonsage Ave, Panama City on Redfin.com

11535 Poston Rd, Panama City
- Price: $835,000
- 2 bedrooms, 2 bathrooms
- Square feet: 1,280
- Price per square foot: $652
- See 11535 Poston Rd, Panama City on Redfin.com

1701 Sweet Pea Ct, Panama City
- Price: $825,000
- 5 bedrooms, 4 bathrooms
- Square feet: 3,142
- Price per square foot: $262
- See 1701 Sweet Pea Ct, Panama City on Redfin.com

138 Queens Cir, Panama City
- Price: $800,000
- 3 bedrooms, 3.5 bathrooms
- Square feet: 3,157
- Price per square foot: $253
- See 138 Queens Cir, Panama City on Redfin.com

2742 E 390 Hwy, Panama City
- Price: $799,500
- 4 bedrooms, 3 bathrooms
- Square feet: 3,067
- Price per square foot: $260
- See 2742 E 390 Hwy, Panama City on Redfin.com

3306 Robinson Bayou Cir, Panama City
- Price: $799,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 2,708
- Price per square foot: $295
- See 3306 Robinson Bayou Cir, Panama City on Redfin.com

2313 Mound Ave, Panama City
- Price: $798,900
- 3 bedrooms, 2 bathrooms
- Square feet: 1,435
- Price per square foot: $556
- See 2313 Mound Ave, Panama City on Redfin.com

1325 Kestrel St, Panama City
- Price: $798,000
- 5 bedrooms, 3.5 bathrooms
- Square feet: 3,260
- Price per square foot: $244
- See 1325 Kestrel St, Panama City on Redfin.com

7325 Suwanee Ave, Panama City
- Price: $795,000
- 3 bedrooms, 2 bathrooms
- Square feet: 2,172
- Price per square foot: $366
- See 7325 Suwanee Ave, Panama City on Redfin.com

1913 Discovery Loop Rd, Panama City
- Price: $789,900
- 5 bedrooms, 4.5 bathrooms
- Square feet: 3,268
- Price per square foot: $241
- See 1913 Discovery Loop Rd, Panama City on Redfin.com

7552 Coleridge Rd, Panama City
- Price: $760,000
- 4 bedrooms, 4 bathrooms
- Square feet: 2,876
- Price per square foot: $264
- See 7552 Coleridge Rd, Panama City on Redfin.com

4405 Bayou Oaks Dr, Panama City
- Price: $750,000
- 3 bedrooms, 2.5 bathrooms
- Square feet: 3,682
- Price per square foot: $203
- See 4405 Bayou Oaks Dr, Panama City on Redfin.com

7910 Gadsden Ave, Southport
- Price: $750,000
- 3 bedrooms, 2 bathrooms
- Square feet: 1,540
- Price per square foot: $487
- See 7910 Gadsden Ave, Southport on Redfin.com

106 Queens Cir, Panama City
- Price: $749,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,903
- Price per square foot: $258
- See 106 Queens Cir, Panama City on Redfin.com

342 S Macarthur Ave, Panama City
- Price: $749,000
- 4 bedrooms, 4 bathrooms
- Square feet: 2,672
- Price per square foot: $280
- See 342 S Macarthur Ave, Panama City on Redfin.com

604 Shoreline Dr, Panama City
- Price: $745,000
- 4 bedrooms, 2 bathrooms
- Square feet: 2,791
- Price per square foot: $266
- See 604 Shoreline Dr, Panama City 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.