When I looked at the details of on the market properties at The Colony, the current one listed is for sale at $414K and just came on the market. It was in the tract built in 2007. The most current sale is $410K that was in January, 2012 and this was also in the tract built in 2007. There is only one more current sale of a townhome built in 2010 that just sold in April for $485K.
The time on market in 2011 was 3-4 months. This year the market has picked up and if you can sell at the marketable price it may only take a few months to sell. Condos and Townhomes don't sell as quickly as single family homes unless complex is FHA approved which opens up the market to more buyers. Otherwise the buyer would have to come up with a minimum of $20K down and they can purchase a home with that much cash.
When I have priced my condos to sell based on the market, I have had multiple offers but the price is the key factor and the condition of the property.
If there is anything else I can answer please feel free to contact me,
Barbara Robbins-Olexa, Broker
L B Brokerage
Servicing LA and Orange County Communities for 33+ years