Home prices continue to rise in the double digits compared to a year ago, but state to state, neighborhood to neighborhood, the story changes. In addition to location, price point is playing an even greater role in the sales picture. Fewer homes priced under $100,000 are selling, while the higher-priced market is suddenly taking off.
That's why CNBC is once again taking a closer look at the million-dollar market — this time with a summertime twist.
(Read More: Vacation Home Sales Sizzle, Rentals Booking Fast)
The Million-Dollar Home challenge, which returned this past spring to resounding response, is now venturing to the vacation-home market.
Starting on "Squawk Box," CNBC reporters will show two homes without disclosing their locations and document the interiors, exteriors, marketed features and one unique bonus offered by each home. Then we will ask a panel of experts, headed by real estate maven Dolly Lenz, to decide which house gives buyers a better bang for the buck.