Part of Litecoin's value that isn't always considered is that it has one of the most secure proof of work blockchains. The Scrypt ASIC hardware doing proof of work isn't common and wouldn't be easy to acquire a lot of. And matching the ASIC hashing power with commodity PC hardware would be difficult to do.
Could it be that the litecoins are mostly in the hands of people with a long term commitment, which keeps the price high? I mean miners.