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The cost of Google seller leads decreased year-over-year in 41% of measured Top 100 markets in the 4th quarter of 2023 (in CINC's portfolio of ad spend for real estate team and agent clients).
The 3 markets that saw the largest seller lead cost declines, Melbourne (FL), Provo (UT), and Baton Rouge (LA), saw seller leads costs decrease by more than 50% year-over-year.
Tulsa (OK), Detroit (MI), and Homosassa Springs (FL) were the new entrants to the Top 5 lowest seller lead cost markets. All seeing seller lead costs below $9.25.
Similar to our recently release of buyer lead cost data (see our recent Google Buyer Real Estate Lead Cost Report here), the largest markets that saw the largest seller lead cost declines were concentrated out West, with Seattle (WA) (ranked #1 for large markets), San Francisco (CA) (#2), Portland (OR) (#7), and Riverside (CA) (#8) all in the Top 8 for large markets.
CINC's Google Seller cost per lead on google has been fairly steady over the last year. This has helped CINC clients outperform their peers as the real estate industry as a whole saw Google lead costs increase 46% year-over-year in 2023 (according to recent research from Wordstream).
As the real estate market improves as NAR is predicting as 2024 progresses, we expect that CINC's Google seller cost per lead will start to decline some.
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 Q4 2023. 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.
Biggest Markets with Biggest Real Estate Lead Cost Decreases for Sellers on Google
The biggest US markets (based on population) where CINC real estate clients had the lowest seller cost per lead on Google in Q4 2023.
Of the largest US markets, 4 of the 8 largest seller lead cost declines were out on the West Coast. Seattle (WA) and San Francisco (CA) each saw double digit declines year-over-year.
Pictured Above: Seattle (WA), ranked #1 in Biggest Markets with Biggest Real Estate Lead Cost Decreases for Sellers on Google.
Texas was also well-represented with 2 markets (Dallas & Houston) both ranked in the Top 8.
| Market Rank | Market | Seller Cost Per Lead (CPL) on Google | % Change Year-Over-Year |
| 1 | Seattle-Tacoma-Bellevue, WA | $15.98 | -23% |
| 2 | San Francisco-Oakland-Hayward, CA | $18.74 | -17% |
| 3 | Dallas-Fort Worth-Arlington, TX | $14.61 | -15% |
| 4 | New York-Newark-Jersey City, NY-NJ-PA | $16.38 | -8% |
| 5 | Detroit-Warren-Dearborn, MI | $8.70 | -6% |
| 6 | Houston-The Woodlands-Sugar Land, TX | $16.29 | -5% |
| 7 | Portland-Vancouver-Hillsboro, OR-WA | $14.63 | -4% |
| 8 | Riverside-San Bernardino-Ontario, CA | $18.11 | -2% |
Biggest Real Estate Lead Cost Declines for Sellers on Google for Top 100 Markets
US markets with the largest seller cost per lead (CPL) declines on Google year-over-year in Q4 2023.
Of all markets, Melbourne (FL), Baton Rouge (LA), and Provo (UT) saw the largest declines in seller lead costs with all seeing a Year-over-year decline over 50%.
Pictured Above: Baton Rouge (LA), ranked #2 in Biggest Real Estate Lead Cost Declines for Sellers on Google for Top 100 Markets.
Half of the Top 10 markets that saw the largest seller lead cost declines were all in the South.
| Market Rank | Market | Seller Cost Per Lead (CPL) on Google | % Change Quarter-Over-Quarter |
| 1 | Palm Bay-Melbourne-Titusville, FL | $11.00 | -72% |
| 2 | Baton Rouge, LA | $10.74 | -51% |
| 3 | Provo-Orem, UT | $10.56 | -51% |
| 4 | Austin-Round Rock, TX | $9.54 | -44% |
| 5 | Urban Honolulu, HI | $11.43 | -44% |
| 6 | Grand Rapids-Wyoming, MI | $10.61 | -41% |
| 7 | Knoxville, TN | $12.40 | -33% |
| 8 | Salt Lake City, UT | $14.25 | -32% |
| 9 | Buffalo-Cheektowaga-Niagara Falls, NY | $6.98 | -29% |
| 10 | Seattle-Tacoma-Bellevue, WA | $15.98 | -23% |
Lowest Real Estate Lead Cost Markets for Sellers on Google
The top 10 markets where CINC real estate clients had the lowest seller cost per lead on Google in Q4 2023.
Fort Wayne (IN), remained in the #1 spot for the lowest seller lead cost markets, with a very low $5.33 per lead.
Pictured Above: Tulsa (OK), ranked #3 in Lowest Real Estate Lead Cost Markets for Sellers on Google.
Tulsa (OK), Detroit (MI), and Homosassa Springs (FL) emerged as fresh additions to the Top 5 markets with the lowest seller lead costs, all boasting lead costs below $9.25.
| Market Rank | Market | Seller Cost Per Lead (CPL) on Google |
| 1 | Fort Wayne, IN | $5.33 |
| 2 | Buffalo-Cheektowaga-Niagara Falls, NY | $6.98 |
| 3 | Tulsa, OK | $7.84 |
| 4 | Detroit-Warren-Dearborn, MI | $8.70 |
| 5 | Homosassa Springs, FL | $9.20 |
| 6 | Missoula, MT | $9.38 |
| 7 | Roanoke, VA | $9.38 |
| 8 | Austin-Round Rock, TX | $9.54 |
| 9 | Louisville/Jefferson County, KY-IN | $9.63 |
| 10 | Chicago-Naperville-Elgin, IL-IN-WI | $9.88 |
Real Estate Lead Cost for Sellers on Google for Top 100 Markets
The Google seller cost per lead for CINC real estate clients in Q4 2023 in the top 100 US markets based on population.
| Market Rank | Market | Seller Cost Per Lead (CPL) on Google | % Change Year-Over-Year |
| 1 | New York-Newark-Jersey City, NY-NJ-PA | $16.38 | -8% |
| 2 | Los Angeles-Long Beach-Anaheim, CA | $21.44 | 10% |
| 3 | Chicago-Naperville-Elgin, IL-IN-WI | $9.88 | 20% |
| 4 | Dallas-Fort Worth-Arlington, TX | $14.61 | -15% |
| 5 | Houston-The Woodlands-Sugar Land, TX | $16.29 | -5% |
| 6 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | $15.69 | 44% |
| 7 | Washington-Arlington-Alexandria, DC-VA-MD-WV | $19.97 | 25% |
| 8 | Miami-Fort Lauderdale-West Palm Beach, FL | $19.38 | 4% |
| 9 | Atlanta-Sandy Springs-Roswell, GA | $17.30 | 1% |
| 10 | Boston-Cambridge-Newton, MA-NH | $17.75 | 45% |
| 11 | San Francisco-Oakland-Hayward, CA | $18.74 | -17% |
| 12 | Riverside-San Bernardino-Ontario, CA | $18.11 | -2% |
| 13 | Phoenix-Mesa-Scottsdale, AZ | $24.17 | 16% |
| 14 | Detroit-Warren-Dearborn, MI | $8.70 | -6% |
| 15 | Seattle-Tacoma-Bellevue, WA | $15.98 | -23% |
| 16 | Minneapolis-St. Paul-Bloomington, MN-WI | $22.13 | 23% |
| 17 | San Diego-Carlsbad, CA | NA | NA |
| 18 | Tampa-St. Petersburg-Clearwater, FL | $19.36 | 18% |
| 19 | St. Louis, MO-IL | $10.16 | 1% |
| 20 | Baltimore-Columbia-Towson, MD | $17.64 | 23% |
| 21 | Denver-Aurora-Lakewood, CO | $29.61 | 87% |
| 22 | Pittsburgh, PA | NA | NA |
| 23 | Charlotte-Concord-Gastonia, NC-SC | $14.76 | 8% |
| 24 | Portland-Vancouver-Hillsboro, OR-WA | $14.63 | -4% |
| 25 | San Antonio-New Braunfels, TX | NA | NA |
| 26 | Orlando-Kissimmee-Sanford, FL | $13.51 | 2% |
| 27 | Sacramento--Roseville--Arden-Arcade, CA | $46.63 | 65% |
| 28 | Cincinnati, OH-KY-IN | NA | NA |
| 29 | Cleveland-Elyria, OH | NA | NA |
| 30 | Kansas City, MO-KS | $15.04 | 9% |
| 31 | Las Vegas-Henderson-Paradise, NV | $17.70 | 22% |
| 32 | Columbus, OH | $14.07 | -13% |
| 33 | Indianapolis-Carmel-Anderson, IN | $11.56 | 5% |
| 34 | San Jose-Sunnyvale-Santa Clara, CA | NA | NA |
| 35 | Austin-Round Rock, TX | $9.54 | -44% |
| 36 | Nashville-Davidson--Murfreesboro--Franklin, TN | $14.82 | 5% |
| 37 | Virginia Beach-Norfolk-Newport News, VA-NC | $16.54 | 8% |
| 38 | Providence-Warwick, RI-MA | $11.46 | -14% |
| 39 | Milwaukee-Waukesha-West Allis, WI | $15.14 | -4% |
| 40 | Jacksonville, FL | $10.06 | -14% |
| 41 | Memphis, TN-MS-AR | $10.69 | -11% |
| 42 | Oklahoma City, OK | $11.02 | -17% |
| 43 | Louisville/Jefferson County, KY-IN | $9.63 | 6% |
| 44 | Richmond, VA | $13.65 | NA |
| 45 | New Orleans-Metairie, LA | NA | NA |
| 46 | Hartford-West Hartford-East Hartford, CT | $13.16 | 76% |
| 47 | Raleigh, NC | $15.79 | 5% |
| 48 | Birmingham-Hoover, AL | NA | NA |
| 49 | Buffalo-Cheektowaga-Niagara Falls, NY | $6.98 | -29% |
| 50 | Salt Lake City, UT | $14.25 | -32% |
| 51 | Rochester, NY | NA | NA |
| 52 | Grand Rapids-Wyoming, MI | $10.61 | -41% |
| 53 | Tucson, AZ | $31.68 | 21% |
| 54 | Urban Honolulu, HI | $11.43 | -44% |
| 55 | Tulsa, OK | $7.84 | -21% |
| 56 | Fresno, CA | NA | NA |
| 57 | Bridgeport-Stamford-Norwalk, CT | $17.39 | NA |
| 58 | Worcester, MA-CT | $25.07 | 23% |
| 59 | Albuquerque, NM | $16.67 | 3% |
| 60 | Omaha-Council Bluffs, NE-IA | NA | NA |
| 61 | Albany-Schenectady-Troy, NY | $12.11 | 73% |
| 62 | New Haven-Milford, CT | NA | NA |
| 63 | Bakersfield, CA | $14.27 | 10% |
| 64 | Knoxville, TN | $12.40 | -33% |
| 65 | Greenville-Anderson-Mauldin, SC | NA | NA |
| 66 | Oxnard-Thousand Oaks-Ventura, CA | NA | NA |
| 67 | El Paso, TX | $12.92 | NA |
| 68 | Allentown-Bethlehem-Easton, PA-NJ | NA | NA |
| 69 | Baton Rouge, LA | $10.74 | -51% |
| 70 | McAllen-Edinburg-Mission, TX | NA | NA |
| 71 | Dayton, OH | $12.19 | 33% |
| 72 | Columbia, SC | NA | NA |
| 73 | Greensboro-High Point, NC | $44.48 | 165% |
| 74 | North Port-Sarasota-Bradenton, FL | $23.17 | 26% |
| 75 | Little Rock-North Little Rock-Conway, AR | NA | NA |
| 76 | Stockton-Lodi, CA | NA | NA |
| 77 | Akron, OH | $15.91 | 57% |
| 78 | Charleston-North Charleston, SC | $36.68 | 10% |
| 79 | Colorado Springs, CO | $17.03 | -5% |
| 80 | Syracuse, NY | NA | NA |
| 81 | Winston-Salem, NC | $10.49 | 16% |
| 82 | Cape Coral-Fort Myers, FL | $19.98 | 26% |
| 83 | Boise City, ID | NA | NA |
| 84 | Wichita, KS | $12.48 | NA |
| 85 | Springfield, MA | NA | NA |
| 86 | Madison, WI | NA | NA |
| 87 | Lakeland-Winter Haven, FL | NA | NA |
| 88 | Ogden-Clearfield, UT | NA | NA |
| 89 | Toledo, OH | NA | NA |
| 90 | Deltona-Daytona Beach-Ormond Beach, FL | $18.21 | -7% |
| 91 | Des Moines-West Des Moines, IA | NA | NA |
| 92 | Jackson, MS | NA | NA |
| 93 | Augusta-Richmond County, GA-SC | $14.23 | -22% |
| 94 | Scranton–Wilkes-Barre–Hazleton, PA | NA | NA |
| 95 | Youngstown-Warren-Boardman, OH-PA | NA | NA |
| 96 | Harrisburg-Carlisle, PA | NA | NA |
| 97 | Provo-Orem, UT | $10.56 | -51% |
| 98 | Palm Bay-Melbourne-Titusville, FL | $11.00 | -72% |
| 99 | Chattanooga, TN-GA | $17.82 | 29% |
| 100 | Spokane-Spokane Valley, WA | $23.35 | 5% |
Additional Google Real Estate Lead Gen Resources from CINC:
In a shifting real estate market, 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.
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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 Real Estate Seller Cost Per Lead Reports for Q3 2023, Q2 2023, Q1 2023, Q4 2022, Q3 2022, Q2 2022, Q1 2022, Q4 2021, Q3 2021, Q2 2021, Q1 2021.