As AlephZero said, it's the amplitude of the changes in pressure. You could measure this with a barometer, if it could react fast enough to capture the waveform (it would be easier with a low frequency). This also puts an interesting upper limit to how loud a steady waveform can be - the low pressure could not be any lower than zero (absolute), so you'd be limited to pressure swings from 0 to about 30 psi at sea level before the sound would distort. Normal sound only creates tiny fluctuations though, so this wouldn't really have any effect unless the sound was loud enough to do things like kill people and level buildings.