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What kind of home $1m buys in Boston, Atlanta, and St. Louis

The exterior a five-bedroom, five-bath limestone mansion at 36 Portland Place in St. Louis.
The exterior a five-bedroom, five-bath limestone mansion at 36 Portland Place in St. Louis.(AP Photo/Gladys Manion, Inc via Realtor.com, Steven B. Smith Photography)

Sales of $1 million homes are booming, even as overall sales have sputtered this year.

It’s further evidence of how the nearly six-year economic recovery has favored the wealthy. Those with epic stock portfolios, superb credit and cash to spare are snapping up estates, pied-a-terres and beachside cottages. Some of this shopping spree comes courtesy of the Standard & Poor’s 500 climbing an additional 13 percent this year, while mortgage rates had slid below 4 percent and made it much easier to borrow.

The real estate brokerage Redfin recently reported that sales of properties costing more $1 million climbed 9 percent year-over-year, based on data from the July to October quarters. Overall sales slipped 1.2 percent.

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These luxury homes are ascendant even though they represent less than 3 percent of the market. More than 60 percent of the U.S. homes sold in November cost less than $250,000 — and their sales have tumbled over the past 12 months, the National Association of Realtors said last week.

But as this slideshow of homes from Realtor.com reveals, what $1 million gets you can vary drastically across the country. In St. Louis, it can secure a Beaux Arts mansion. In Atlanta, it’s enough for a charming craftsman. In Boston, it covers a two-bedroom condominium.

ST. LOUIS: The single-familyhome on Portland Place  features a lush entertainment room.
ST. LOUIS: The single-familyhome on Portland Place features a lush entertainment room.(AP Photo/Gladys Manion, Inc via Realtor.com, Steven B. Smith Photography)
ST. LOUIS: The home features an outdoor pool area and 7,967 square feet of property.
ST. LOUIS: The home features an outdoor pool area and 7,967 square feet of property.(AP Photo/Gladys Manion, Inc via Realtor.com, Steven B. Smith Photography)
ATLANTA: This four-bedroom, four-and-a-half bath craftsman home at 779 Penn. Ave. NE in Atlanta is listed for $999,900.
ATLANTA: This four-bedroom, four-and-a-half bath craftsman home at 779 Penn. Ave. NE in Atlanta is listed for $999,900.(AP Photo/William Russell Realty via Realtor.com)
ATLANTA: The home was built in 1920 and features an open floor plan, which includes a gourmet kitchen and formal dining room.
ATLANTA: The home was built in 1920 and features an open floor plan, which includes a gourmet kitchen and formal dining room.(AP Photo/William Russell Realty via Realtor.com)
ATLANTA: This craftsman home has 3,780 square feet of property, with a home office with a private entrance and a finished basement.
ATLANTA: This craftsman home has 3,780 square feet of property, with a home office with a private entrance and a finished basement.(AP Photo/William Russell Realty via Realtor.com)
BOSTON: A condo at 34 Melrose St. with two bedrooms, two-and-a-half baths, and 1,229 square feet is listed for $1.079  million.
BOSTON: A condo at 34 Melrose St. with two bedrooms, two-and-a-half baths, and 1,229 square feet is listed for $1.079 million.(AP Photo/Charlesgate Realty Group via Realtor.com)
BOSTON: This renovated penthouse features an open floor plan, along with a built-in home audio system and exceptional mill work.
BOSTON: This renovated penthouse features an open floor plan, along with a built-in home audio system and exceptional mill work.(AP Photo/Charlesgate Realty Group via Realtor.com)
BOSTON: The home also features a private deck off of the kitchen, and a walk-out roof deck at the top of the stairs.
BOSTON: The home also features a private deck off of the kitchen, and a walk-out roof deck at the top of the stairs.(AP Photo/Charlesgate Realty Group via Realtor.com)

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