Not long ago, homes in the million-dollar range were easy to spot because of their size, typically 6,000 square feet or more. Today, the average size has shrunk to between 3,500 and 5,000 square feet of space, according to developers.

That’s the size of many less expensive houses, but homes with seven-figure price tags have individual architectural designs and other features that won’t be found in a typical subdivision house, says Alan Looney, president of Castle Homes.

“You can find a house with the same square feet for half the price, but it won’t have the elements ours have, the countertops, the finishes,” he says.