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$1 Million Summer Homes

You can find a lot of attractive vacation house options for $1 million—from a chateau in the Hamptons to a cabin in Wyoming. But which are the best investments?

Though U.S. home prices continue their double-digit rise compared with a year ago, the story varies from state to state, neighborhood to neighborhood. In addition to location, prices are playing an even greater role. Fewer homes under $100,000 are selling, while the higher-priced market is taking off.

That's why CNBC's "$1 Million Home Challenge" took a closer look at the million-dollar market—this time with a summertime twist, venturing into the vacation-home sector.

Reporters went across the country to document interiors and exteriors, as well as unique features each home offer. Then a panel of experts, headed by real estate maven Dolly Lenz, decided on which house gives buyers the best bang for the buck.

Click ahead to see $1 million vacation homes.

By CNBC's Diana Olick. Follow her on Twitter @Diana_Olick or on Facebook at facebook.com/DianaOlickCNBC.

By CNBC's Anna Andrianova. Follow her on Twitter @AndrianovaAnna

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