Home to just under 2,000 residents and located in San Luis Obispo County, the historic unincorporated town of Santa Margarita offers residents and future homeowners a quiet quality of life that is within arm's reach from the city of San Luis Obispo. Residents are just a short 15 minute drive down Highway 101 to San Luis Obispo, or SLO as the locals call it, and if you drive north on the 101 for about 25 minutes you'll hit Paso Robles ? the up-and-coming wine capital of the Central Coast.
A rural community, Santa Margarita is located in the foothills of the Santa Lucia Mountains and is home to the popular boating, fishing, and camping recreational spot of Santa Margarita Lake. As the area is predominantly rural, many buyers will find that Santa Margarita's housing market consists of a unique combination of single family homes, ranches, and vineyards. Equestrian properties can be found in Santa Margarita, as well as land for many types of development. Many residents commute to San Luis Obispo for work and school on a daily basis and return each day to the beauty and peacefulness of friendly Santa Margarita.
Recreation is plentiful here in Santa Margarita as residents have access to many county-run golf courses, hiking, horseback-riding and biking trails, and of course, the Santa Margarita Lake Natural Area as well as the Los Padres National Forest.
Santa Margarita Real Estate Market: Prices of Houses for Sale in Santa Margarita
Santa Margarita, CA real estate is diverse and affordable, offering first-time buyers and move-up buyers a chance to invest in the home of their dreams. Buyers looking to purchase or start a vineyard will not be alone in this area of many hundred-plus acre vineyard properties. Average listing prices for property in Santa Margarita currently hovers in the $235,000 range. Prices for Santa Margarita homes start in the low $100,000s for ranch-style starter homes on generously sized lots.
Million dollar homes that sit along the edge of the Santa Lucia Mountains or include lake views are also available for purchase. Land in Santa Margarita is readily available for purchase starting as low as $6,500. There are also planning efforts underway to build elegant homes on small acreage parcels in a new subdivision contained within the Santa Margarita Ranch ? one of the earliest Spanish Land Grants now privately owned and operated for non-profit fundraisers and events, including recently a Sunset Magazine event.
Santa Margarita Real Estate Stats and Trends for the week of April 19th, 2020: homes priced around $601,000 compared to $601,000 the previous week, to remain steady with no change in listing price. For Sunday, April 19th, the current national mortgage rate for a 30 year fixed mortgage is 4.51%; the 15 year fixed rate is at 3.90%. For a loan larger than conventional conforming loans, or 'jumbo' loan, the 30 year rate is 4.41%, while the 15 year jumbo rate currently is at 4.12%.