The number of marijuana-related business licenses issued in Colorado hit a record high of 4,974 in January, according to the Colorado Department of Revenue.
Sales of the drug, which was legalized in November, were up 12 percent from January to February, according the bureau.
It said the average retail price for a 1 ounce of marijuana, or less than $20, went up more than $2.50 from January through February.
Marijuana sales, though, hit a 20-year low in January.
A previous survey by the bureau found the number of business licenses has remained flat since January.
Marijuana is still illegal under federal law, and many states have moved to legalize the drug for recreational purposes.
The bureau did not immediately respond to a request for comment.
The agency also reported the number for February was up by 1,814, a 1.5 percent increase.
The department did not have data on March sales.