You're reading it right, but I think Google's giving you a false inflated number due to a glitch. I may be wrong, you never know, but looking at the search terms and google popularity for other terms like Las Vegas Homes and Vegas Homes etc., my gut tells me it's a glitch.
If you Estibot your name, the TotalSearches shows as being 1200 and I'd bet that's a more accurate reading in this case.
There have long been glitches and discrepancies, I try to research a term using google keywords, Estibot TotalSearches, and also just looking at search engine results, to get a clearer idea if a name seems to be getting 'too many searches to make sense' to me.
A couple examples:
A year ago, any term that began with 'glow in the dark' would show literally tens of thousands of exact searches according to both goog and Estibot; now that seems to be corrected.
Some terms still show discrepancy at one source and not the other. For example:
instrumentTray.com shows 880 exact google searches, 39,000,000 TotalSearches at Estibot, where it's valued at $56K, ha. That's only because of some glitch of course; the term used to show about 200,000 exact google searches when I first found it a year or two ago; google seems to have corrected itself somehow but Estibot is still showing strange.
P.S. instrumentTray.com is still available to reg

And another:
HairCareAppliances.com (a name I own, with minisite) still shows whacked out stats both places; Goog shows 135,000 searches and Estibot's TotalSearches still shows 60,000. But really, I think the term gets maybe a few hundred exact searches.
With your term I **suspect** it's glitching... that being said, I'm not sure. Google says high searches for it, TotalSearches says low. That discrepancy can mean glitch, or it can mean a spike in searches that is being shown by one and not the other.
Regardless, I doubt you'd ever get a minisite with this term to rank high on the engines as a minisite, you have good competition; and being a dot.net you might have a diff time interesting realtors...
But prove that wrong. Who knows for sure?