Retail marijuana sales reached a record high in 2022, hitting over $2.2 billion. But wholesale prices and dispensary sales both started falling in the second half of that year, as COVID restrictions ended and an oversupply of products flooded Colorado. Around the same time, a handful of additional states legalized retail marijuana or turned a blind eye to intoxicating hemp sales, further hurting Colorado’s cannabis tourism market.
Slower dispensary traffic eventually led to lower prices. After peaking in 2021 at $1,721 per pound, the median price per pound of Colorado marijuana has consistently decreased, according to the DOR, hitting a record-low $648 last December. This followed a few other points of record-low flower prices in 2024 and 2025.
In addition to steep drops in wholesale prices and dispensary sales, Colorado has seen a large chunk of growers shut down or leave the state. According to DOR records, there was a 48 percent drop in licensed recreational marijuana cultivations from 2021 to 2025, with 488 registered as of December.
Seems like business is moving out of state as other states legalize. And marijuana tourism has also dropped, of course.
Exactly what i was thinking when i clicked it. Nobody needs to flock to CO if they now have it themselves. Also the states that still don’t have it probably have closer states they can go to as well. It’s sort of weird that this wouldnt be expected, its one of the great reasons why it pays to be first but don’t expect it to last forever either.
Seems like business is moving out of state as other states legalize. And marijuana tourism has also dropped, of course.
Exactly what i was thinking when i clicked it. Nobody needs to flock to CO if they now have it themselves. Also the states that still don’t have it probably have closer states they can go to as well. It’s sort of weird that this wouldnt be expected, its one of the great reasons why it pays to be first but don’t expect it to last forever either.