House listings may have risen by 22 per cent since this time last year but inventory levels remain well below typical in the Cochrane and prices continue to escalate.

In its latest update, the Calgary Real Estate Board (CREB) states 105 units were available at the end of February, the highest monthly total seen since last July. At the same time, February sales improved over last year, to 65.

"With a sales-to-new listings ratio of 62 per cent, we did see some growth in inventory levels compared to last year," states the update. "However, inventories remain well below what is typical for this market."

There's a two-month supply, supporting further price growth in the town. As of February, the unadjusted benchmark price reached $548,300, an improvement over last month and over 11 per cent higher than levels reported last year.

Other communities in the Calgary area, including Airdrie and Okotoks are seeing similar supply issues pressuring prices to go higher. The benchmark price in Airdrie is $529,700 and $605,500 in Okotoks.