The median price for previously owned homes sold in January on O'ahu decreased 10.1 percent to $539,500 compared with the same month last year, according to the Honolulu Board of Realtors.

The median sale price for condominiums was down 5.8 percent to $305,000 in the same period.

Sales were down by close to half in the month, with single-family home transactions totaling 122, representing a 46.5 percent drop from a year earlier, and condo sales totaling 159, a 50.9 percent drop.