Domain names rapidly gained value between 2006 and 2007, with prices peaking in November 2007 (an increase of 76% compared to January 2006) before falling by 34% in the subsequent five quarters. Domains have steadily regained their strength since then, climbing to an all-time high in May 2011.
Interesting graph especially "Revenues from online ads (US)", mine have gone precisely the opposite way!
FWIW I recently bought a widget trade keyword .co.uk for USD 500, that's 10% of what they were asking for it just a couple of years ago.
I can see a lot of really good names for sale at relatively-speaking, low prices, yet no one buying. Maybe a combination of many people/companies having what they need and the Panda effect has depressed prices rather than increased them?