Real Estate bottom here in Milwaukee and Menomonee Falls

We may have passed the Real Estate bottom here in Milwaukee and Menomonee Falls, Wisconsin.  I am seeing agents receive multiple offers once again.  I am also seeing a high number of accepted offers on the searches I am conducting.  I just searched for a 3 bedroom bungalow.  A few weeks ago I was sending out some real great looking homes at low, low prices.  Today they are all sold or have accepted offers.

A month ago I could find 50 or more homes based on the needs of any buyer.  The searches I am going now turn up a dozen or so homes. 

Last month I could find a number of foreclosed properties in good condition between $40,000 to $50,000.  Today the prices have shot up into the mid to upper 60's.

Open houses are bringing buyers. 

The last few offers I wrote were on properties receiving multiple offers.

I am seeing an increased number of buyers calling. 

The number of sales on MLS has not increased but has been holding steady.  Is this the beginning of a turn around or a temporary spike in sales?