Real Estate Lead Value Index Report for Google | Q4 2024 Update

The Google Real Estate Lead Value Index (LVI) improved year-over-year in Q4 2024 (using data from CINC's portfolio of of real estate team and agent clients)  due to an increase in home prices offsetting a small increase in Google buyer cost per lead.

A higher LVI indicates that real estate leads are a better value.

The median home price in the fourth quarter was $410,100 and the buyer CPL was $7.07. The resulting LVI of 14.5 means that $1 in real estate lead generation leads to more than $14.50 in commissions.

Using the Google buyer Cost Per Lead, the Median Home Price (NAR), the average commission, and the percent of leads that close, CINC created the CINC Lead Value Index (LVI). The Lead Value Index approximates the commissions that can be expected from a dollar in advertising.

LVI = (the median home sales price ✖️ the average commission percentage ✖️ the average percent of leads that close) ➗  the total Google buyer CPL.]

Looking at the markets with the highest LVIs, there was a change at the top. Honolulu, which usually has the highest LVI, fell to the third spot. It was surpassed by Kingston, NY, and Pittsfield, MA. Honolulu has very high home prices, but Kingston and Pittsfield had lower CPLs which improved their LVIs. Slightly lower down the rankings, San Francisco was number 8 and Warner Robins, GA, was number 9. These cities are not very similar to each other.

Focusing on just the big markets, again California was well represented. Four of the top 8 cities were from California. San Francisco, San Diego, and Los Angeles were joined by Riverside at the top of the charts.

If you would like to know more about the Lead Value Index, or find out the LVI of your market, please register on cincpro.com to speak with a CINC product expert.

Despite market conditions, the ROI of online real estate advertising for real estate teams and agents continued to be exceptionally strong (for more details on related trends, see our recent Google buyer lead cost report and the seller lead cost report).

CINC is the leader in online real estate lead generation with more than 50,000 clients. This behind-the-scenes lead cost data is what we were seeing for our portfolio of real estate team and agent clients during Q3 2024. The CINC client marketing team manages almost $30 million in search and social advertising spend annually for real estate teams and agents across the United States and Canada.  If you want to see how CINC can help you find more higher quality hyperlocal real estate leads on Google, request a demo here. 

Additional Google Real Estate Lead Gen Resources from CINC:

With buyer cost per lead up recently, it is more important than ever to be more efficient paying for leads on Google.  Try our free local Google real estate targeting tool here to find hidden pockets of more cost effective hyper-local leads near you.

Watch our recent on-demand real estate lead gen webinar here where we discuss new trends for real estate teams and agents on Google Ads, including a deep dive on Google Local Service Ads (LSA's) for realtors.

Here are links to past historic Google Real Estate Lead Value Index Reports for Q3 2024, Q2 2024, Q1 2024, Q4 2023, Q3 2024, Q2 2023, Q1 2023, Q4 2022, Q3 2022, Q2 2022, Q1 2022, Q4 2021.