The Honolulu Board of Realtors today said that the median price for a single-family home last month was $356,750, down a mild 1.5 percent from July 1995's $362,000.

The median price for a single-family condominium declined 6.2 percent to $170,000 from the year-earlier month's $181,250. Median price means that half the homes sold above and half sold below the given price.

The number of single-family home sales was virtually unchanged at 152 homes, compared with 153 in July 1995. Condominium sales, however, increased a healthy 11.2 percent to 189 units last month from 170 in the year-earlier period.

The July results underscore the point that Hawaii's housing market is still a buyer's market, the board said.

"Anyone serious about selling in the current market needs to realize that the market is price driven and that to attract a buyer, the property must be priced right," said C. Scott Bradley, president-elect of the Honolulu Board of Realtors.

"While there are a variety of well-priced properties available around Oahu, today's buyers are taking the time to educate themselves and really shop around before deciding on a property."

The July results compare more favorably with home prices in June. The July 1996 median price of $356,750 for a single-family home translates into an 8.9 percent increase from the prior month's $327,500. For condominiums, the July 1996 median price of $170,000 is off 6.3 percent from June 1996's $181,500.

The board's study covers resales of existing properties and does not include sales of newly built homes.