MEREDITH, NH (October, 26, 2021) -- Better Homes and Gardens Real Estate The Masiello Group is expanding its reach into the New Hampshire Lakes Region by opening a new office in Meredith.
The office, located at 54 NH Route 25, Suite 54E in the Hannaford Plaza in downtown Meredith, directly across from Lake Winnipesaukee, is the agency's first office in the region. This expansion will connect the entire New Hampshire Lakes Region to The Masiello Group's wide presence in the New England real estate market. The Masiello Group now has 35 offices in Northern New England, spanning from Downeast Maine through New Hampshire and into Vermont.
"We found we were doing more and more business in the Lakes Region and wanted to support our agents, and better serve our clients, by opening a full-service office in the area," said Sarah Kelley Ford, the interim Sales Director for the Meredith office. "The Meredith office will serve as a hub for a number of agents already working throughout the lakes region."
Growth in Rural Markets
The new office in Meredith is a direct response to the recent urban migration trend that's brought numerous homebuyers from out-of-state to Northern New England. The past two years have seen continued interest and increased housing prices in the New Hampshire and Maine real estate markets, partially driven by people moving from other parts of the country to the region. In addition, Meredith and the entire Lakes Region has long been a popular location for vacation and second-home buyers, thanks to its easy access to the major cities of the Northeast and its history of strong home price growth.
With the increased prevalence of remote work, buyers can now work out-of-office at a second home for long periods of time. Others are relocating altogether from larger cities to suburban and rural areas that offer natural beauty, ample opportunities for outdoor recreation, and access to amenities. According to data from the Atlas moving company, roughly two-thirds of the moves in New Hampshire and Maine in 2020 were people migrating into the two states from elsewhere.
"The new Meredith office allows us to increase the company's home listing portfolio and better meet the needs of clients looking to relocate into more rural areas that can provide a higher quality of living," said Ford.
BAR HARBOR, Maine -- Better Homes and Gardens Real Estate The Masiello Group and Acadia Realty Group will join forces on July 1 as part of an acquisition agreement. The agreement strengthens the ability for both groups to serve Hancock and Washington county with a united team of experienced agents.
The Masiello Group has 33 offices in Northern New England, including Ellsworth, Maine. With offices in Ellsworth and Bar Harbor, Maine, Acadia Realty Group brings its roughly 30 experienced agents to The Masiello Group team. In addition, The Masiello Group Ellsworth office will move to the Acadia Ellsworth office, more than doubling the number of agents The Masiello Group has in the Acadia area.
"With the Maine market at a 40 year high and interest in Mount Desert Island stronger than ever, the timing of this move could not be better," said Steve Shelton, principal of Acadia Realty Group. "Our agency and agents have earned an excellent reputation over the years. Joining The Masiello Group, strengthens our ability to serve our communities."
The Acadia Realty Group and Better Homes and Gardens Real Estate The Masiello Group are known for their service and knowledge of the local real estate market. Each has experienced, knowledgeable agents who go above the industry's standard of care with each client.
"I am excited to be able to join forces with such a talented team of agents," said Chris Masiello, CEO and President of Better Homes and Gardens Real Estate The Masiello Group. "Acadia is one of the most exciting and popular corners of Maine. Our two agencies have a lot of synergies and aligned core values. Combining our two teams of professionals who know the communities and the local market so well strengthens our commitment to servicing our customers."
The acquisition comes when real estate sales are strong, and home prices are on the rise in the Down East Region. In Hancock County, where Ellsworth and Bar Harbor are located, the number of single-family home sales in April increased nearly 70% over the same month the previous year. The median home sale price rose to $278,500, a 21% increase over April 2021. Because the housing market is so competitive, joining these two reputable agencies and their large fleet of agents will offer continued quality service to native Mainers, and those from out-of-state who want to live the way life should be.