Economic restructuring and the dramatic expansion of higher education have generated large migration flows of skilled employees to Chinese cities. The residential mobility of skilled migrants has a large impact on the operation of housing and labour markets and the (re)production of social inequities. In this paper we examine the effects of life-course trajectories and institutional factors on the residential mobility of skilled migrants, in comparison with local skilled workers in Nanjing, using a retrospective survey conducted in 2012. Results show that skilled migrants have a higher level of residential mobility than their local counterparts, and that this difference arises from the locals' early entry into homeownership. Yet, migrants and locals also share similarities: market factors that are closely related to household, labour, and housing careers are decisive in explaining the residential mobility of skilled workers, indicating that life-course theories are also applicable in the Chinese context. The impacts of traditional institutional factors, such as hukou, employer type, and Chinese Communist Party membership, are of a much smaller magnitude, indicating that markets have become dominant institutions in China.