What Happens to Austin Real Estate in a Downturn?

Patrick Hallett, Realtor, July 30, 2022
A lot has changed in Austin real estate over the past few months. It’s now very clear that the pandemic boom is over and it’s a real possibility that we’re heading into a downturn. While lots of buyers welcome the additional inventory and the breathing room this provides, these changes have understandably made many sellers (and many buyers) nervous about the market. This begs the question, “What happens to Austin real estate in a downturn?”

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The last downturn in Austin real estate started in 2008 with the Great Recession. It’s important to remember just how deep and long this recession was. The recession lasted almost 18 months and it took the Austin market almost 4 years to recover. This is much longer than most recessions and most real estate downturns. That said, how was Austin real estate affected in 2008? A lot has changed in Austin real estate over the past few months. It’s now very clear that the pandemic boom is over and it’s a real possibility that we’re heading into a downturn. While lots of buyers welcome the additional inventory and the breathing room this provides, these changes have understandably made many sellers (and many buyers) nervous about the market. This begs the question, “What happens to Austin real estate in a downturn?”

~~~ Get Market Updates w/ SOLD info for Your Neighborhood Here ~~~

The last downturn in Austin real estate started in 2008 with the Great Recession. It’s important to remember just how deep and long this recession was. The recession lasted almost 18 months and it took the Austin market almost 4 years to recover. This is much longer than most recessions and most real estate downturns. That said, how was Austin real estate affected in 2008?
About the Author
Patrick moved from Houston to Austin in 2004 to attend Texas State University and never looked back! After racking up 10 years of customer service experience he decided to embark on a career in real estate sales in 2013. Patrick is a people person who loves connecting and helping people achieve their real estate goals. He loves making his clients feel understood and the importance of catering to the unique needs of buyers and sellers. Currently residing on the East side, he has also lived in various neighborhoods in South Austin, allowing him a boots on the ground knowledge of these parts of the city. As an avid cyclist, Patrick has a unique understanding of Austin that can only be gained by pedaling through the neighborhoods and surrounding areas of the city and always knows alternate routes! In his free time he loves to travel and scuba dive.

Last updated: 25/8/2022

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Elle helped us last year find our new home and she was fantastic! She walked us through step by
step, answered all questions all hours of the day and happily took us and our 4 rambunctious young
kids house hunting. We are truly happy with everything she did for us. She has since then found my
parents and some friends their homes to rave reviews as well! Such an excellent realtor that I would
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My wife and I made the decision to move to Round Rock from out of state after our daughter and grandchildren moved to Cedar Park. I put out feelers over the Internet with multiple real estate companies. I received numerous emails but only Elle’s assistant, Michelle, actually called me on the phone. She was extremely kind and helpful and we made the decision to meet with her and Elle on an upcoming house hunting trip. Elle was very helpful and knowledgeable and over the next couple of months helped us to decide on a new build in Mayfield Ranch. She assisted us all along the way and when issues came up she stepped in and made sure everything worked out out as they should. I am very glad she was in our corner.
Along the way Elle became more than just our real estate agent. We consider her our friend. I would highly recommend Elle to anyone looking to purchase a home. You will not be disappointed.
We also recommended Elle to our daughter and she helped them buy their first house.

Elle was very diligent in getting us our first rental home. She knows areas/neighborhoods well and definitely has a competitive edge. The Austin market is CRAZY but she helped calm any anxieties about a fast moving process.

From the first day I met Elle, I knew I could count on her knowledge and expertise of the real estate world. Elle provided more than wonderful advice. She did some work on my property because it was needed, and I’m not as young as I used to be! 😜 To work with someone who knows what she is doing and, most importantly, has a gigantic heart is such a joy. She is now a valued friend!

My wife and I thoroughly enjoyed working with Elle Klein. Elle’s expertise allowed us to make the best decisions throughout our home-buying process – from search, negotiation, and close. We highly recommend Elle Klein to anyone who wishes to work with a market expert.

Jean Holm, who works for Bramlett Realty, is the best realtor I have ever worked with. I have had twelve real estate transactions over the last 50 + years. Jean was far and away, head and shoulders over anyone else I have dealt with. She is an expert and knowing the market and the neighborhood. She gave me great advice and all the information I asked for, and I asked for a lot. Her response time to my calls and texts was beyond anything I would have expected. I initially called her about listing my house when Austin prices were at their peak. Packing up for staging took me months, my issue, and consequently I missed the window for a big sale. But I was determined to move and Jean helped me understand the changes occuring in the market and the best approach for my situation. She spent an incredible amount of time with me. Always cheerful, helpful, dependable, extremely knowledgeable, I rate my experience with Jean and Bramlett Realty a 10+. I am a very happy customer.

Our listing wasn’t moving which was frustrating, plus we had some troubles with the new home we had just closed on. If it weren’t for April Moreaux, we would have gone insane. She knows her business really well and was able to give great advice and follow up with us so we weren’t in the dark about anything. We dealt directly with April but everyone we passively worked with at Bramlett was always on the same page and it shows the company’s professionalism and great line of communication.

We worked with April Moreaux of Bramlett Residential to purchase our first home and we were very pleased. As a first time home buyer, we were concerned that our lack of knowledge of the home buying process would be a disadvantage to us. This was not the case though. April was attentive, responsive, and clearly had our best interest in mind throughout the whole process. Our 4 year old ended up really taking a liking to her also as she kept him occupied during walkthroughs. We would highly recommend her as she exceeded all expectations.

Joe was great in all aspects of inspecting, pricing and selling our house. We had two offers in two weeks and closed within a month of the listing. Highly recommend using both Joe and Bramlett Residential Real Estate as we’ll be doing with another property sale soon.

I had a fantastic experience working with my realtor Becky Welch. I cannot speak highly enough of her professionalism, and dedication in helping me find the perfect home. She was always available to answer any questions I had throughout the process. Becky made the process of buying a home out of state easy. She took care of every detail for me from the beginning to the end.

Kevin Wilhelm is the best. I don’t know if we’ve ever had such attention paid to us and effort put out for any service we’ve ever had. It didn’t feel like a person trying to sell us a house. It felt like an old friend guiding us to a home. Kevin’s optimism was infectious, and weeks after settlement, he is still helping us to make the transition. We may be new to Texas, but we know we have at least one friend here.

I had a great experience with Kevin. This was my third home sale/purchase with him, and I’ve referred him to several friends over the years as well. Kevin is a top notch Realtor, and he gives me the information I need in order to make an informed decision. Kevin makes his recommendations but doesn’t flinch if I go a different direction, he has all the contacts when I need a referral, he negotiates hard on my behalf, he goes the extra mile and then another 10. I’ll keep recommending Kevin; he’s fantastic!

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