A new year. A new record.

Oahu’s housing market started 2015 etching another high mark for median prices following two consecutive years of price records for residential real estate, according to data released for publication Saturday by the Hono­lulu Board of Realtors.

The new peak was set for the median price of condominiums at $381,500 last month. That was up 19 percent from $320,000 in the same month last year, and it topped the prior record for any month that was $361,250 in December.

"This indicates demand for housing is still very high," Jack Legal, the board’s president and owner of Legal Realty in Kapo­lei, said in a statement.

Among sales that pumped up the median condo price was a two-bedroom unit in the 1350 Ala Moana tower that sold for $818,000 last month. It previously sold for $750,000 in October 2013. And a two-bedroom unit in the Pacifica Hono­lulu tower sold for $798,000 last month. That unit was sold new for $623,740 in November 2011.

The median price for single-family houses sold in January was $675,000. That was up 7 percent from $629,500 in the same month last year but below the record for any month, which was $719,500 in November.

While prices were up, the number of sales was down in January compared with a year earlier. Volume for single-family house sales dropped about 15 percent to 210 from 246. Condo sale volume decreased roughly 8 percent to 286 from 310.

Legal said relatively low inventory contributed to fewer sales. It also is a factor in higher prices as prospective buyers compete for limited properties.

There were 1,077 single-family houses on the market in January. That compared with 1,159 in the same month last year. Inventory for January between 2006 and 2012 ranged from 1,202 to 1,903.

Condo inventory last month was 1,630 units. That compared with 1,564 a year earlier. Between 2006 and 2012 condo inventory ranged from 1,638 to 2,494.

Local economists have been saying for about two years that new home construction near historic lows on Oahu puts upward pressure on home prices. Other factors adding juice to the market include rising personal income, falling unemployment, low interest rates and record tourism.

The University of Hawaii Economic Research Organization published a forecast in August predicting Oahu home prices will rise through at least 2017.

UHERO’s forecast this year is that the single-family house median sale price will rise about 10 percent to $755,000, followed by an 8 percent increase to $818,000 in 2016 and then a 3 percent gain to $840,000 in 2017.

For condos, UHERO forecasts the median price will rise about 6 percent to $379,000 this year, followed by an 11 percent increase to $420,000 in 2016 and then a 7 percent gain to $448,000 in 2017.