The Reserve at Heritage Harbour in Annapolis announced it has topped out its construction, approaching its December completion date.
The development group, a partnership of IDI Group Companies and the Michael T. Rose Family of Companies, is working on completing the construction of The Reserve, a six-story building featuring 134 luxury condominiums. The condos will range from $300,000 to $600,000.
More than 50 percent of the available phase one homes have been purchased.
In Anne Arundel County, March statistics by Metropolitan Regional Information Systems, a real estate information service, indicated the average paid price of a piece of property was actually down by about 1 percent from a year before.
The average price sold in the county is listed at more than $395,000.
An increase was seen, however, in average days on the market, as Anne Arundel County property is listed for an average of more than 110 days.
“Every time an expensive apartment comes on the market, it sells pretty quickly,” Mike Yerman, a broker with Yerman, Witman, Gaines & Garceau Realty, previously told The Examiner. “The condo market itself is good, and it has gotten good over the last five years for sure. We are certainly making sales on the luxury side.”
