The median home value in Conway, SC is $248,300. The median home value of all homes in Conway SC is $253,800. The average price of a home in Conway is $359,440. This is a moderately low ratio of home value to median home price in Conway which means that the homeownership rate in Conway is lower but it’s not as low as you might think.
When you break down the numbers further you’ll see that homes in Fairfield Acres are valued at a slightly higher rate than homes elsewhere in Conway. Fairfield Acres has 662 homes for sale and 62% of them are currently listed for $425,000 and under.
The Good News about Fairfield Acres Real Estate
When people think of cheap real estate in South Carolina, Fairfield Acres usually comes to mind. And with good reason — the area is home to some of the most affordable homes in the state. More specifically, the Fairfield Acres neighborhood in Conway, South Carolina is home to some of the most affordable houses on the market.
This is great for first-time homebuyers and those on a budget, but it can be even better for seasoned real estate investors who want to cash in on the cheap housing market.
How to Purchase a Home in Conway
Buying a home is a big decision and can be nerve-wracking. It can also be incredibly rewarding when you buy the right home and make the right choice. There are several steps you can take to make the process easier and less stressful. First, you’ll want to identify what type of home you want.
There are several different types of homes in the real estate industry and it can be difficult to know what type you want without seeing the house. Have a couple of friends look at the homes you are interested in and they’ll be able to help you decide which type of house you like best for Fairfield Acres homes for sale.
Homes for Sale in Fairfield Acres, SC
When you’re ready to start looking, you can start by heading to the listings section of the website. As soon as you see something that piques your interest, you can begin your search. There are plenty of homes for sale in Fairfield Acres. When you’re ready to make an offer, your goal is to make an offer that is below the list price. The list price for many homes in Fairfield Acres is more than twice the going rate.
This is a great deal for the homeowner but a bad deal for the real estate investor. The key to making a good offer on a home is to know the home’s value — and do your research before making an offer. Visit the zoning authorities to get a better idea of what type of home you might be able to purchase.
Fairfield Acres Real Estate Prices
On the surface, Fairfield Acres real estate might not appear to be a great deal. After all, the home is listed for much less than what it’s worth. However, consider that several factors go into calculating home value in South Carolina. The listing price is just the front face of the home. The back is worth more because it has a lot of equity built into it.
In Fairfield Acres, homes valued at $150,000 or less usually have a taxable value of about $50,000. The homes valued between $150,000 and $300,000 are generally considered to be worth more than $200,000.