ZIP 94028, Portola Valley Housing Market · 2026

Data through Aug 2026 · Part of the Portola Valley housing market

Data curated by Melanie Tan, 8 Blocks Real Estate · How this data works

ZIP 94028, Portola Valley Market Snapshot

ZIP 94028 is shifting toward buyers. Here's where things stand:

Based on 26 homes sold in the 3 months ending August 2026. Includes all residential types (SFH, condo, townhouse, multi-family, and others). Updated weekly.

Data through August 2026

SalesWhat are homes selling for?
Median Sale Price
$5.00M
▲ Up 29.0% from August 2025
Up $1.12M from August 2025
Homes Sold
26
Sold in the last 3 months. More sales = more reliable data.
Your CostWhat would you actually pay each month?
Monthly Payment
~$32,746/mo
7.28% · 30yr fixed · 20% down
Payment Breakdown
  • Principal & Interest$27,357
  • Property Tax$5,206
  • Insurance$183
CompetitionHow competitive is it right now?
Days on Market
42 days
▲ 26 more days than in August 2025
Buyers have time to decide
Sale-to-List Ratio
99.2%
▼ Down from 102.2% in August 2025
Selling 1% below asking
% Sold Over Asking
28%
Only 28% sold above asking. Few bidding wars right now
Active Listings
16
▼ Down 40.4% from August 2025
About 1.9 months of supply. Very low, limited options for buyers

Market Trends

See how prices, monthly costs, and mortgage rates have moved in 94028, Portola Valley.

Median Sale Price
Up 29.0% year-over-year in 94028, Portola Valley. Based on 26 sales in the last 3 months.
Homes Sold
86% more homes sold than a year ago in 94028, Portola Valley.
Total Monthly Payment
Estimated monthly cost is up 30% from a year ago in 94028, Portola Valley, reflecting changes in both price and mortgage rates.

Includes principal, interest, estimated CA property tax (~1.25%), and estimated insurance (~$2,200/yr). HOA fees not included.

30-Year Fixed Mortgage Rate (National Avg.)
National average currently at 7.28%. Your actual rate depends on your credit, down payment, and loan type.

Frequently asked questions about ZIP 94028

Is now a good time to buy in ZIP 94028?

ZIP 94028 currently leans toward buyers. Homes are sitting longer and sellers are more open to negotiation. It is a good time to take your time, request contingencies, and consider offering below asking.

How do ZIP 94028 home prices compare to the Bay Area average?

At $5.00M, ZIP 94028's median sits about 181% above the Bay Area average of $1.78M. ZIP 94028 is on the higher end of the regional market.

Within Portola Valley, this area trades about 12% below the city-wide median of $5.71M.

How competitive is ZIP 94028 for buyers?

ZIP 94028 currently leans toward buyers:

  • Homes sell about 0.8% below asking on average
  • 28% close above list price
  • 42 days typical time to go pending
  • 18% of listings have had a price reduction

Buyer strategy: a well-structured offer near or below list price has a good chance of success.

What will my total monthly cost be on a median-priced ZIP 94028 home?

At $5.00M with 20% down at 7.28%, your estimated total monthly cost is approximately $32,746:

  • $27,357 principal and interest
  • $5,206 property tax (California 1.25% effective rate)
  • $183 homeowners insurance

HOA fees are extra.

No noise, just a quick weekly read on what's going on in your market.

Melanie Tan
Melanie Tan
DRE #02250755
“I help Bay Area buyers and sellers make confident moves with the latest market data, real local expertise, and the patience to find what's actually right for you, not the fastest close.”
See all reviews on Zillow →

Let's Chat!

I read every message and usually reply the same day.

What brings you here?