By Andrew Macdonald
- Topic: Hydrstone Buying Scorecard: Highest Ever Selling Home & Second Highest Buying Home
If you have been reading The Notebook over the course of the two-year-long pandemic, you know we have covered Hydrostone listing and buying action, the way the dew covers the summer lawn in this charming 105-year old enclave, built after the 1917 Halifax Explosion.
To give you an updated scorecard, the highest ever sales price in the Hydrostone occurred at 5548 Hennessey Place, listed for $599,000 on April 28th, 2021. Days later on May 3rd, realtor Steve Lumb’s client had an offer of $750,000 – which was accepted.
The lot size is 1,484-square-feet, and the interior living space registers in at 1,401-sq.-ft.
Viewpoint suggests the monthly mortgage would be $3,048.
Steve Lumb listed 5548 Hennessey Place for $599,000 on April 28th, 2021. Days later on May 3rd, he had an offer of $750,000 – which was accepted by Lumb’s client. (Engel & Völkers image).
Lumb is a realtor with Engels & Völkers, out of its Chester office – he also says on his website he is a resident of Halifax’s historic Schmidtville enclave, off of Spring Garden Road
On his real estate marketing for the Hydrostone home, he writes: “Everyone loves the Hydrostone’s: Boasting one of the largest floor plans in this idyllic community, 5548 Hennessey Place’s four floors are steeped in character and charm while being graced with many of today’s “must-have” features”.
He adds, “The main floor features the cozy main floor living room, an open kitchen with a large island for premier entertaining and a convenient dining area and rear vestibule leading to the deck. The lower-level rec room is a perfect place for the kids. The upper level offers three bedrooms, a bathroom and the bonus third-floor loft can be utilized as a second living room or primary bedroom with a three-piece ensuite bath”.
A rare feature, this home’s driveway can park two smaller cars. Lumb also suggested the parking stalls “can be enclosed with custom-designed panels to create your own courtyard”.
The kitchen of the listing Steve Lumb sold for a record-setting $750,000 in 2021 – the highest ever purchase and sales price in the HFX Hydrostones, on Hennessey Place. (Engel & Völkers image).
Lumb noted in his real estate cut sheet that the home is “a stone’s throw from the Hydrostone Market and (the Hydrostones have been) named one of the ‘great neighbourhoods in Canada’”.
Realtor Steve Lumb lives in Chester and has a home in HFX’s Schmidtville, in the city’s downtown. He is with Engel and Voelkers NS-Chester. (Engel and Völkers image).
The realtor, in a text message to me in 2021, did talk generally about the overall health of the real estate market.
“Prices are rising due to (these factors):
1. High demand as Nova Scotia is an attractive place to live”, he offered.
Other factors he suggests for rising prices, include:
2. “Reduced inventory (listings) due to COVID. Many folks not listing as entering the market as a buyer provides few options in this tight market”.
3. “Nova Scotia housing is relatively inexpensive on both a national level and an international level”.
4. “Increased migration from Ontario and B.C., as retiring people cash out of those expensive markets and come to NS”.
5. “Increased federal (gov) allotment for the Maritimes for new (arriving immigrants)”.
Finally, agent Lumb says another factor in rising home prices is the “growing trend towards work from home/work remotely means you can be anywhere and provide online services”.
The Second Highest Hydrostone Sales Price
I seemed to have been asleep at the switch when 5528 Stairs Place sold in May, 2021. Although a reader did alert me around that time of the sale – I guess I was writing other news stories. It has 1,949-square feet of interior space and lot size consisting of 1,500-sf..
While it is Notebook policy not to name home sellers or buyers – under $1M, did on Saturday speak to the listing agent, 32-year long realtor/broker Mark Stein.
5528 Stairs Place sold for $701,000 in 2021 – making history as the second-highest priced Hydrostone in the 105-year history of the residential enclave in Halifax Northend. (Viewpoint).
He listed the property and the subsequent buyer was represented by Jennifer Gillis of Domus Realty.
Stairs place was listed on April 30th, 2021 for $529,900 – and ended up selling for $701,000 on May 12th, with a pending offer accepted May 7th, 2021, making history as the second-highest selling price in the Hydrostones.
The home seller had acquired the home in 2011, paying $320,000 with an asking of $328,900. It was on the market 13-days that year.
5528 Stairs Place sold for $701K in 2021 – the second-highest price in the Hydrostone’s 105-year history in HFX Northend. (Viewpoint).
Realtor Stein’s cut sheet said: “Classic yet modern Hydrostone townhome – renovated and upgraded and ready to be yours! Lovingly cared for this home features a main level with a huge open concept entry, a living room and a fantastic original wooden staircase to the two levels above. Large eat-in kitchen with its huge centre island; there’s a family room space, double skylights and doors to the private, fenced backyard.
He added, “Original Douglas fir floors and new hardwood throughout all three levels. The 2nd level has three good-sized bedrooms and a large full bath including an original bear-claw tub! The 3rd level is the kicker! It has a wonderful primary bedroom and gorgeous 3 piece bath and plenty of storage areas. The finishing touches on the 3rd level are second to none!”.
5528 Stairs Place. (Viewpoint).
The Stairs Place home was listed with a “new roof, new wiring, new windows etc., etc. The basement level is high and dry and can easily be finished as a rec room, man-cave or just tons of storage!”, added Stein.
“Walk everywhere from this home! The large centre boulevard is awesome for kids to play soccer and just be kids! Paved parking in the front and ability to park another car outback, if needed. You will NOT be disappointed with this gem!”.
In a chat yesterday, Saturday, Stein, a realtor for 32-years and his own broker since 2000, says the Stair Place listing offered lots of listing charm.
The Hydrostones was built 105-years ago out of the devastation and destruction and mass deaths from the 1917 Halifax Explosion. A neat feature of the residential enclave is the large grassy boulevards. (Viewpoint).
While it is the second highest selling abode in that neighbourhood, Stein offers a caveat that MLS nor Viewpoint record private home deals.
I asked Stein if the $750K-$701K selling prices are the new norm for the Hydrostones.
“(The seller) had done quite a bit of renovating work, including finishing the attic, including a brand new bath, and the kitchen was new. The (seller) did a lot of work since the (seller) bought it (in 2011)”, says Stein.
“We had multiple offers. I forgot the number of offers, whether it was six or eight”, he adds.
“Any other Hydrostone that would come on the market today, in my opinion, that is finished on three levels (as Stairs Place) was, that is finished in the way (Stairs) was, will sell in the $700K – that is quite remarkable”.
Stein says be once owned in the Hydrostones “a long time ago when the earth was green I owned an end unit on Hennessey Place, that I lived in. And, I remember selling it for $119,500 – and that was then the highest price ever paid. And, look at today, $750K”.
Twenty years ago, former national Tory leader Erin O’Toole told me in 2020 he bought his first home in the Hydrostone for $105,000 – when he lived in Halifax between 1996-2003, at the time flying Sea Kings out of Shearwater and later studying law at Dal Law School.
“When I first started in real estate, they were around the low $100K, for mine on Hennessey Place, I remember paying $75,000. It needed everything, but it was a terrific end unit that had an original slate roof. It was just gorgeous inside and I fixed it up, maintaining the historic aspect but I modernized it. And, then life changed and I (sold) and I thought I won the lottery when I sold it for $119,500 three years later”.
