Colorado Marijuana Prices Keep Falling, Tie Record Low

Colorado’s current marijuana industry retraction hasn’t helped wholesale prices go up, with the cost per pound dropping to a record low this summer, according to new data from the state Department of Revenue.

Released once per quarter, the Colorado marijuana AMR measures median prices of various wholesale marijuana categories — despite the inclusion of “average” in the name — and projects prices for the next quarter. On September 10, the DOR released the latest Average Market Rates (AMR), information that then sets the level of excise taxes that growers must pay through the end of 2025.

The AMR for pounds of harvested flower, which is largely used for smoking, has been on a steady decline since 2021, when prices hit over $1,700. Current DOR records have the AMR for Colorado marijuana pounds at just $649, which ties the summer of 2023 for the lowest number since the state began keeping track of legal weed prices.

The market saw some improvement in 2024, with the AMR for pounds of marijuana reaching $750, but prices quickly fell back into the mid-$600 range by 2025. Even worse news for growers this year: There was a 25 percent drop in the number of licensed marijuana cultivations from September 2023 to September 2025 as the number of recreational dispensaries in Colorado stayed flat, indicating that less competition hasn’t helped push up wholesale prices.

Dispensary sales figures have been sliding in Colorado for about four years, too, going from over $2.2 billion in 2021 to just over $1.4 billion in 2024, a 36 percent decrease and seven-year low, according to the DOR.

Colorado has seen several high-profile marijuana brands leave the state and other businesses close in 2024 and 2025, including A Cut Above, L’Eagle, Verde, Dablogic, Maggie’s Farm and the original ownership behind Terrapin Care Station. Several other notable dispensary chains, such as Lightshade and Good Chemistry, have also closed and sold locations after reporting declining sales.