Home prices in Charlotte fell 3.4 percent in August compared with August 2009, when the average sales price in the metro area was $120,720, according to the Standard & Poor/Case-Shiller Home Price Indices.

The average home sales price in the area in August was $116,600, down 0.4 percent from $117,030 in July.

The average home sales price in July was down 0.2 percent from $117,240 in June.

The peak average sales price was in August 2007 when homes in the metro area sold for $135,880.

The indices, released Tuesday, also show a decline in home prices in 15 out of 20 U.S. cities.

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