Real Estate Lead Value Index Report for Google | Q2 2025 Update

The Google Real Estate Lead Value Index (LVI) held steady in Q2 compared to Q1, as a slight increase in Google Buyer lead costs was balanced out by rising home prices. 

With a median home price of $429,000 and a Google Buyer CPL of $7.02, the Q2 LVI came in at 15.3—meaning every $1 spent on lead generation can return over $15.30 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. The Lead Value Index approximates the commissions that can be expected from a dollar in advertising.  A higher LVI indicates that real estate leads are a better value. The formula is: 

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

Some standout markets include:

• Honolulu took the top spot this quarter, with a median home price over $1.1M and a lead cost under $6.
• Kingston, NY remained in the top two, continuing its strong performance.
• Among major metros, San Francisco, San Diego, Los Angeles, and Riverside all ranked in the top 10 again.

California again ruled the big markets. Four of the top 10 cities were from California. San Francisco, San Diego, Los Angeles and Riverside were in the top 10, and San Francisco was in the peak position.

For the Lead Value Index for the top 100 US markets by population, download the Q2 2025 report. 

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 Q2 2025. 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.

Here are links to past historic Google Real Estate Lead Value Index Reports for Q1 2025, Q4 2024, Q3 2024, Q2 2024, Q1 2024, Q4 2023, Q3 2024, Q2 2023, Q1 2023, Q4 2022, Q3 2022, Q2 2022, Q1 2022, Q4 2021.