The Mitchell Group Real Estate - December 2023

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Ketchup, the popular tasty and tangy condiment found on tables and in refrigerators worldwide, has a surprising and somewhat peculiar history. In the 1830s, it was not just a topping for hamburgers and hot dogs; it was actually sold as medicine — yes, medicine! A Unique Origin Ketchup’s roots can be traced back to Asia, where it was called ke-tsiap (Xiamen), a sauce made from fermented fish sauce. It made its way to Europe in the 17th century, but it looked and tasted different from the ketchup we know today, as it included ingredients like mushrooms, walnuts, and oysters — no tomatoes. THE UNBELIEVABLE HISTORY OF KETCHUP FROM MIRACLE CURE TO TASTY DELIGHT

The Medicinal Claim and Tomato Connection In the 1830s, an Ohio physician named Dr. John Cook Bennett began marketing a tomato-based concoction as a medicinal elixir. Dr. Bennett claimed his tomato extract had incredible healing properties and promoted it as a cure for a wide range of ailments, including diarrhea, indigestion, jaundice, and rheumatism. During this time, tomatoes were still relatively new in American cuisine, and many people were skeptical about their edibility and safety. In fact, some believed tomatoes were poisonous, but Dr. Bennett aimed to market them as a safe and healthy miracle ingredient. His tomato preparation was a precursor to modern ketchup. The Transition to the Table Over time, the medicinal claims surrounding tomato- based ketchup faded, and people began enjoying its

MEDIAN SALES PRICES STEADY November property sales declined slightly year-over-year, with total combined sales dipping about 8% compared to November 2022. Single- family home sales declined by 6.3%, while the condo market saw an 8.8% decrease. O'AHU HOME SALES R SLUGGISH AMID THE

taste. A tomato-based ketchup started to appear in cookbooks as an ingredient in recipes and was commonly paired with eggs, meat, and fish. By the late 19th century, ketchup had become a staple in American households, and companies like Heinz began mass-producing it. Today, it’s tough to imagine ketchup as anything other than a delicious topping for our favorite foods, and while tomatoes do contain antioxidants and vitamin C, we know ketchup won’t cure a sickness. However, its transformation from fish sauce to tomato medicine to a beloved topping is a remarkable twist in culinary history! 2

Both markets saw median sales prices in November that closely resembled October 2023’s figures. Year-over-year, the median price of a single-family home dipped 4.3% to $1,100,055. Conversely, condos marked a 7.5% increase to $516,179.

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"Market activity remains sluggish despite mortgage rates dipping slightly from the peak we saw last month," said Fran Villarmia-Kahawai, president of the Honolulu Board of Realtors. "However, pending sales data revealed that buying activity is rising in affordable price ranges for single-family homes and condos."

A significant portion of contract signings in November were for single-family homes priced in the $800,000 to $999,999 range, representing almost one-third of pending sales with 56 contract signings. In the condo market, over 75% of pending sales occurred within the $200,000 to $799,999 range, with the highest concentration in the $300,000 to $599,999 range, accounting for approximately 46% of contract signings for the month.

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