Homeowners from Alexandria have changed houses less in the past years. During the first quarter of 2019, homeowners in Alexandria have sold their homes have lived in it for an average of 8.05 years. As compared to an average of 8.17 years during the last quarter of 2018, the numbers has started to decline.
Before the great recession occurred, homeownership tenure averaged at just 4.21 years. However, homeowners who stay longer are able to see higher gains at resale. In the first quarter of 2019, home sellers in Alexandria pocketed an average price gain of $57,500 since their purchase, which is an average 31.5% return on the purchase price.
Among large metros with populations of at least 1 million, the areas with the longest average homeownership tenure for home sellers who sold in the first quarter were:
- Hartford, Conn.: 12.52 years
- Boston: 12.36 years
- Providence, R.I.: 11.15 years
- San Francisco: 10.40 years
- San Jose, Calif.: 10.27 years
25 of 108 metros in the United States are countering the national trend and seeing homeownership tenure decrease from a year ago. It is noted that homeownership tenure is decreasing in places like:
- Kansas City, Missouri
- Tucson, Arizona
- Boston, Massachusetts
- Orlando, Florida
- Oklahoma City