The market for smaller, fuel efficient, and reliable cars has exploded the past several years - so prices will be inflated compared to other years.
There is a significant difference between the 1991 and 1992 Corolla platforms, depending on the trim levels. The 1992 model year was the first year they introduced fuel injection to their mainstream (base) Corollas - in 1990-1991, only the SR5 trims and above got fuel injection. This will have a non-trivial affect on value - which will be a good or bad thing, depending on the prospective buyer.
One thing that could be an issue is low mileage. Sounds funny, but I tend to shy away from cars that don't see much use, especially if they haven't been driven near daily basis. Reason being, a car that is operated often will circulate fluids, consistently get up to operating temps, and see more routine maintenance - than one that sits for months at a time. If a car isn't stored correctly, significant problems can occur. Good example is gasoline - only takes a week before it starts to break down and create varnish. Other is run-time - if the car doesn't completely heat cycle, get up to operating temps for a significant amount of time - it will not be able to "cook" off contaminants in the motor oil and other fluids. Over time, this can eat internal parts or sludge/gum up parts.
That said - if the owner stayed on top of all the maintenance - then all of the above is a non-issue. As for value - always make a counter offer. IMO, $1450 for a 6th gen Corolla is a little steep, even with those relatively lowish miles. If it is the SR5 trim or better and body shows no side of corrosion, little cosmetic damage, interior is clean - then $1200-$1300 would be a great price. Otherwise, I'd bee looking for $1000-$1200 for the car. As always - have a shop toss the car on a lift and take a peek at the bottom. Note any odd sounds/odors during the test drive.
These older Corollas, if well maintained, last an incredibly long time. But like any car, if you don't keep up on the maintenance or get maintenance done incorrectly, be another potential money pit.