Michigan Marijuana Prices Hit A Record Low In July. Why?
Adult-use marijuana prices have fallen nearly 14.5% throughout 2024
Legal market marijuana prices in Michigan reached historic lows in July, propelling the second-largest sales month since adult-use legalization in 2019.
The average price for an ounce of marijuana flower was $79.70, according to data from the Michigan Cannabis Regulatory Agency. Total adult-use sales totaled $286.4 million, trailing only the record sales month in March at $286.8 million.
Adult-use marijuana prices have fallen nearly 14.5% throughout 2024 after a sharp increase throughout the summer and fall last year, likely due to increased enforcement to stamp out illicit product in the legal market. The previous basement for the average price for flower was $80.16 in January 2023.
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