Stay or Go: The U.S. Metros Where Homeowners Stick Around—and the Ones They Can’t Wait To Leave

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McAllen, TX Average time between sales: 10 years, 3 months Median home list price: $277,000 Median days on the market: 48 In McAllen, the average time between the last two sales of a home is more than a decade. Miami, FL Average time between sales: 8 years, 8 months Median home list price: 617,000 Median days on the market: 50 Miami earned the nickname "The Magic City" because of its sudden appearance-like magic. Washington, DC Average time between sales: 8 years, 4 months Median home list price: $572,800 Median days on the market: 36 Homes in Washington, DC, aren't quite as pricey as those in New York City or Miami, but they're well above the national average, bringing with them significant fees and costs for every move. Indianapolis, IN Average time between sales: 5 years, 1 month Median home list price: $312,500 Median days on the market: 37 The affordable housing stock in Indianapolis means homebuyers can quickly move up the ladder of homeownership-going from a starter home to a larger second home, and eventually into a dream home-faster here than in most other places, says Kelly Lavengood, a Realtor with Good Living Indy. Knoxville, TN Average time between sales: 5 years, 1 month Median home list price: $412,400 Median days on the market: 38 Knoxville has recently been dubbed "Knox Vegas," a reference to both the art, music, sports, and nightlife culture that surrounds the University of Tennessee and the population boom the city has seen in recent years. "Historically, we've been just below the national average," says Marianne Bornhoft, Realtor and broker at Windermere Manito Real Estate, "So it's a sweet spot where people can buy, immediately add equity by fixing up a home, and then sell and buy something a little bigger or nicer." The low prices, along with homes that could use updating, have meant it's been a great market for the right buyers. "I've always told people that they need to hold on to a home for three-and-a-half or four years in order to make money with it. But in the last two or three years, Spokane's prices have doubled," Bornhoft says, "So people have been able to make it work out much faster." Recognizing the opportunities, Bornhoft took advantage herself and bought, renovated, and sold a local home all during the pandemic.