The median price for a single-family home on O'ahu slipped 3.1 percent to $620,000 in July from the same month a year earlier, while the volume of sales fell 26 percent during the same period, the Honolulu Board of Realtors reported today.

The median condominium price edged down 1.5 percent to $329,900 in July from a year earlier, while the number of sales fell 20.1 percent.

In another sign of the slowing real estate market, the number of days it took to sell a single-family home rose to 52 days in July from 44 days a year earlier. For condominiums the days on market rose to 42 days from 38 days.

"The number of resales in the O'ahu housing market may be starting to stabilize at these reduced levels," said Harvey Shapiro, economist for the Honolulu Board of Realtors.

"The rate of decline has softened a bit and this could signal that we're nearing the bottom of this slower market, but we need to see a few more months of data to confirm this."