Portola Valley, CA Real Estate Listings & Homes for Sale

In September 2024, Portola Valley home prices rose significantly, with the median sale price reaching $6.3 million—an impressive 38% increase from the previous year. The average sale price was $6.67 million, or about $1,610 per square foot, reflecting the premium buyers are paying for properties in this desirable area. Homes generally sold for around 4.1% below the list price, with an average time on the market of 35.5 days, indicating steady buyer interest despite the high price points. Buyers typically put down a 30% down payment, underscoring the strong financial investment required. With only four homes sold, the market remains exclusive and limited, pushing prices up and maintaining Portola Valley’s status as a competitive yet high-end market.

Portola Valley is a moderately competitive market, with homes typically selling in about 36 days and some attracting multiple offers. On average, properties go for roughly 4% below the list price before going pending, but for "hot" homes, the dynamics shift—these can sell in around 17 days, often for about 1% above the asking price. This suggests that while buyers have some leverage in most cases, particularly desirable properties still see quicker sales and may even surpass list prices.

In the period from June to August 2024, 3% of homebuyers nationwide expressed interest in relocating to Portola Valley from outside metropolitan areas. Notably, prospective buyers from Honolulu showed the highest interest, followed by those from New York and Pensacola.