Are we on the cusp of a turnaround here in the south bay?

Ok...I know I'm pulling from a small string of data, but in the last 2 weeks homes have been seriously flying off the market in the $700,000 plus range. I have been showing a lot homes lately, and suddenly almost 40% of them have gone pending in the last 3 days. Granted this is from a pool of about 50 homes but wow!! I haven't seen this much movement in a long time!!! Not only that, there are multiple offers everywhere from Bank Sales, short sales and regular resales. Would love to hear what other agents are experiencing out there!!!