The price of retail cannabis in Michigan has reached record lows with the average cost for an ounce of cannabis flower dropping to $79.70 in July, according to a Crain’s Detroit Business report. Adult-use product prices have fallen nearly 14.5% in 2024 – the previous record low for cannabis flower prices, set in January 2023, was $80.16 per ounce.

Total cannabis sales in the Great Lakes State reached $268.4 million in July, only slightly trailing the state’s monthly sales record of $286.8 million, which was set in March when Michigan became the first state to surpass California in monthly legal cannabis sales since the launch of California’s legal market.

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