Here’s Why Marijuana Prices Appear to Be Dropping in Colorado

COLORADO: After about 18 months of legal recreational marijuana sales in Colorado, the market keeps getting bigger. And now a new survey shows that pot prices in Colorado are actually declining, even as the number of customers increases.

Over the past year, the price for 1/8th of an ounce of recreational pot dropped as much as 40% in Colorado, according to a report from global brokerage services company Convergex, which recently surveyed several marijuana dispensaries in the Centennial state. Convergex reports that the average price for 1/8th of an ounce dropped from between $50 and $70 last June to between $30 and $45 now. The price of a full ounce is now between $250 and $300 after selling for roughly $300 to $400 a year ago.

One reason the cost of getting high is getting lower is because of increased competition from new dispensaries and the expansion of growing facilities.