94028 Housing Market
Median List Price
$3,850,000
Updated August 2026
Today, the 94028 ZIP code in Portola Valley, CA has 13 homes for sale at a median list price of $3,850,000, typically selling in about 151 days.
94028 Housing Market Overview
Homes in the 94028 ZIP code carry a median list price of $3.9M. That is roughly in line with the Portola Valley median. The median price moved from $3.4M in February to $3.1M in July, a 9.5% decrease over six months. Right now 13 homes are on the market in the 94028 ZIP code. Six bedroom homes carry the highest medians at $6.5M, with two bedroom homes starting the range at $2.2M.
94028 Area Market Pulse
Topfind Market Read
Buyers hold the edge right now. The typical home takes about 151 days to sell, and 6.5 months of supply is more than current demand absorbs. At the same time, selling times have improved 62% versus six months ago, and sale prices are up 3% over the last six months, though still 22% below a year ago, which keeps well-priced homes moving. Buyers have room to negotiate price and terms, while sellers should price sharply and present well to stand out.
Median Home Price
$3.85M
↓ 22% over the past yearChart shows the median closed sale price by month
Months of Supply
Estimated time to sell all listings at the current sales pace
6.5 months of supply
Ample Supply13 active listings, plenty of options to choose from.
What this means for buyers
There is more inventory than recent sales absorb, so buyers have plenty of options and stronger footing to negotiate price and terms. Listings typically sell in ~151 days.
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 trend is moving the other way though, with selling times down 62% over the last six months.
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 94028 Area
Homeownership is significantly higher than average, making this a homeowner-dominated market with more long-term residents.
84%
Homeowners
16%
Renters
Homeownership is 28.5 points higher than the California average (55.5%)
1,730 households (2023)
Median Price by Bedroom
Home prices rise significantly with each additional bedroom.
Each additional bedroom adds about $1.1M in value on average, with larger homes seeing bigger price jumps.
Largest increase: 4 → 5 bedrooms (+$2.3M)
Price Reductions
6 listings have reduced their price
46% of active listings
Average reduction: 8.4% (~$325K)
Browse 94028 Listings
Frequently Asked Questions about the 94028 Housing Market
What is the median home price in the 94028 ZIP code?
The median list price in the 94028 ZIP code is $3,850,000 as of August 2026, based on 13 active listings.
Is the 94028 ZIP code a buyer's market or a seller's market?
The 94028 ZIP code currently reads as a buyer's market. Active inventory works out to about 6.5 months of supply at the recent sales pace.
How fast do homes sell in the 94028 ZIP code?
The average home currently for sale in the 94028 ZIP code has been on the market for 151 days.
Are home prices in the 94028 ZIP code going up or down?
The median sale price in the 94028 ZIP code is down about 22.3% compared with a year ago.
How many homes are for sale in the 94028 ZIP code?
There are 13 homes for sale in the 94028 ZIP code right now.