12 homes in Santa Margarita
Homes for Sale in Santa Margarita, CA
About Santa Margarita, CA Real Estate
Santa Margarita is an unincorporated community located in San Luis Obispo County, California. It was founded in 1889 near Cuesta Peak and San Luis Obispo along today's State Route 58. The town's name comes from the Mexican Alta California land grant of Rancho Santa Margarita. It is home to the Santa Margarita de Cortona Asistencia site. For statistical purposes, the United States Census Bureau has defined Santa Margarita as a census-designated place (CDP). The population was 1,291 at the 2020 census.
Santa Margarita is a small community near San Luis Obispo. Features Santa Margarita Lake recreation and rural atmosphere.
Today, Santa Margarita has 12 homes for sale at a median price of $499,000, typically selling in about 116 days. Families here choose from 1 schools rated 8 or higher on the Topfind School Score.
Top Rated Schools in Santa Margarita
Powered by the Topfind School Score
- 8Santa Margarita Elementaryelementary
- 7Carrisa Plains Elementaryelementary
Why Live in Santa Margarita?
- Lake recreation
- Rural atmosphere
- Near SLO
- Small community
Santa Margarita Market Pulse
Topfind Market Read
Buyers hold the edge right now. The typical home takes about 116 days to sell, and 58% of sellers have trimmed their asking price. Buyers are firmly in control and can negotiate hard, while sellers need sharp pricing to draw attention.
Median Home Price
$499K
Chart shows the median closed sale price by month
Sales Velocity
How fast homes are selling
Homes are sitting on the market, so buyers often have strong leverage to negotiate price, terms, and repairs. The slowdown has deepened 23% versus six months ago.
Inventory Distribution
A larger share of listings has been up beyond 30 days, which typically means more room to negotiate on those longer-listed homes.
Housing Tenure in Santa Margarita
Renting is more common here than statewide, so this market has more rental inventory and shorter-term residents.
35%
Homeowners
65%
Renters
Homeownership is 20.5 points lower than the California average (55.5%)
435 households (2023)
Median Price by Bedroom
Larger homes command significantly higher prices, with sharp increases beyond 3 bedrooms.
Each additional bedroom adds about $476K in value on average, with larger homes seeing bigger price jumps.
Largest increase: 6 → 7 bedrooms (+$845K)
Price Reductions
7 listings have reduced their price
58% of active listings
Average reduction: 10.8% (~$54K)
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