This is all down to opinion, and what your aims are. The Google tool only gives an approximation of the results, and anyone can only respond based on what you say in your question.
Which is the best data to use? I would say look at the figures, because if you are looking for targeted responses you need to choose the keywords most likely to drive such traffic to you, and that is the point I was trying to make.
If I look at the figures for "real estate" then it well tell me one thing, but if I narrow that down to "real estate/location" I will get something else.
I would like to hit the broader searches as well, perhaps to the country as well as the town but I am never going to be on the first page for a very wide search. It must always be better to get hits for exact searches but you may pull in some for near misses.
I know as ı am writing that this isn't the exact answer you are looking for but SEO is not exact. Maybe someone else can word it better than me