Is Portola Valley, CA 94028 a buyer’s or seller’s market?

The Portola Valley housing market right now

In the three months ending August 31, 2026, 28% of homes in Portola Valley, CA 94028 sold above their list price, the typical home went under contract in 42 days and there were 1.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 26 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 57%, homes sold more slowly (16 days then) and the median sale price rose 29% to $4,997,837. Overall, Portola Valley is less competitive than a year ago, which gives buyers more room.

Within San Mateo County, homes here sell more slowly than in 92% of the county’s ZIP codes, and sell less often over asking than in 81%. On our competition score, Portola Valley ranks #549 of 1,069 CA ZIP codes with enough sales (score 63 out of 100).

Nearby, buyers who want less competition could look at San Gregorio 94074 (0% sold over asking) or Pescadero 94060 (0% sold over asking), while South San Francisco 94080 (71% sold over asking) and San Mateo 94403 (69% sold over asking) are even more competitive.