Run campaigns/ad groups for the areas( city, subdivision, etc) that you want to push and what people are looking for. Start with your more in demand areas. Add others as you feel the need. The majority of real estate searches are the same. What you would want to add is some area specific terms. For example, in the Boston area they have Brownstones. In New Orleans we have Shotgun houses. If there is something unique and/or popular in your area give those terms a shot and see how they perform in both clicks and conversions. To answer your question, your landing pages should most likely be a list of properties unless you are promoting a specific listing for some reason.
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