Seasonality of median prices for single family homes shows well in those two graphs, one for the County as a whole, the other for the specific city of Los Altos.
A value for a month usually corresponds statistically to the sales price of the previous month's transactions. For instance a value for January would typically correspond to the aggregate sales started in December.
Click on any graph to see it larger.
Of course, as all statistics, one has to take them with a grain of salt. Some large single sales can skew the figures quite a bit, and the smaller the sample is, the less they are meaningful.
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Francis
Silicon Valley real estate
Trends: Local prices and graphs.
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