To answer that question, I would need to know if you are talking about a builder town home, or a resale. I will guess that it is a builder unit, since that is the majority of what is going on there, and I can't imagine any of those are being resold yet. Also, the older units sold well over $600k.
The answer would really depend upon the number of square feet, and the finish level. It is always a challenge to price homes in a new development. Also, there are other considerations, such as timing, and builder incentives, which you should really talk to a buyer agent about. I ran all the town home listings since 1/1/2008 in the area between Rt 32, 216, 29 and 108. If you click on the link below, you'll see that it is all much above the current offerings in the $340s.
There is a great deal out there in that price range. Please let me know if you have any questions.
The Head for Home Team
Keller Williams Select Realtors