I am not sure what town home you are referring to, but some of the town homes in Waverly Woods are condos and some are not. The non-condos pay roughly $40 month in HOA fees, which covers the common area of the neighborhood, the pool, tennis courts, tot-lots, etc. That price is a steal for a pool and fitness club membership.
The condos pay more because with a condo you do not own the exterior of the structure (ie roof and siding) and the care and maintenance of those is handled by the condo ( along with snow shoveling, lawn care, etc.). The condo fee seems expensive, until you think about the cost of exterior maintenance over the life of a home ($5k for a roof here, $5k for siding there, lawn care, gutter cleaning) and realize that it is actually a fair exchange. Also, the homeowners insurance on a condo is usually much cheaper.
I have sold almost every style of dwelling in the neighborhood, so if you have any questions please let me know