The Honolulu Board of Realtors said sales and prices of existing homes on O'ahu fell in March.

The median sale price for single-family homes was $600,000, down 4.5 percent from $628,000 in the same month last year. However, the decline in March was the smallest this year compared with an 8.2 percent drop in February and a 10.1 percent drop in January.

For the first three months of this year, the single-family home median price is down 8.1 percent to $570,000.

There were 188 single-family home sales in March, down 33.3 percent from 282 a year earlier.

The median price for condominiums sold last month was $305,000, down 7.4 percent from $329,300 a year earlier. For the first three months of the year, the median is 9.1 percent down to $300,000 compared with the same period last year.

There were 248 condo sales in March, down 36.7 percent from 392 a year earlier.

The sales represent purchases closed in March, which typically reflect sales contracts signed one to three months earlier. The median price is a point at which half the sales were for more and half for less.