From following the C5 Z06 market since I was hunting for the M3 four years ago, prices are basically unchanged for nice used low mileage C5 Z06s if not firmer by ~10-20%. I saw this on R&T's web site and thought it was interesting:
http://www.roadandtrack.com/car-culture/a32169/the-corvettes-that-dont-get-driven-sold-or-bought/. The fact that the theme of this article is now being highlighted likely signals the inverse of what they are stating -- in other words it's time to buy nice, low mileage C5 Z06s for the long term.

The sedan Z06 equivalent from back then, the E39 M5, has been appreciating like crazy (for low mileage, well-kept examples) in the past 4-5 years. One recently sold for $145,000 that had 300 miles on it. Cars with 20k or so miles are selling for well over $60k now. Of course there were only about 1/4 the number of M5s sold versus Z06s sold, so it's a much rarer car. Apparently it's also much easier to find a Z06 owner who hasn't driven his/her car much, taken incredible care of it, treated it like a family member (at least if that article is to be believed).
Straying off that topic a bit, one other car I almost bought back then was a 996 GT3. I had found a 16k mile example with Motons, extra set of high end wheels, and a few other extras a guy had been trying to sell for a few months. The car ended up selling for $52k. Today? The same car with more than twice that mileage is bringing about $70k. The 997 GT3s were going for $70-75k back then, and now four years later most all of them are going for more than $100k. Sheeesh.