MI Full Coverage — Live

Michigan Cannabis
The 86% Compression

From $419/oz to $58/oz in five years. The second-largest cannabis market in America just posted its first-ever sales decline — while selling more product than ever. Michigan is the compression story every other state is watching. And now a 24% wholesale tax just landed on top.

$5.71/g
Median flower $/g
−86%
Price decline since 2020
$2.14/g
Transaction avg (CRA)
$55K
Median trade area income
Data Coverage
What we track in Michigan
Multi-platform menu coverage validated against CRA licensing data and monthly statistical reports. Michigan publishes the most granular public pricing data of any state.
73
Cities
195,184
Menu Items
2,171
Active Licenses (CRA)
Triple
Source Coverage
AVAILABLE
Demographic Intelligence
Census-tract level · Michigan dispensary trade areas
Median household income, education levels, age distribution, and competitor density for every dispensary location in Michigan. Available in Radius Briefs and Quarterly Reports.
The Michigan Story
$419 to $58. Five years. This is what compression looks like.
Michigan allowed unlimited licenses, vertical integration, and massive cultivation operations. The result: the fastest and deepest price collapse in American cannabis history. Every market that followed open licensing is watching Michigan to see what comes next.
2008 — Medical Legalization
Michigan voters approve medical cannabis. The program builds slowly with a caregiver model. By 2018, over 300,000 patients are enrolled — one of the largest medical programs in the country.
2018 — Prop 1 (Adult-Use)
Voters approve recreational cannabis with 56% support. The framework allows unlimited licenses, vertical integration, and stacked cultivation licenses. Michigan bets on open competition — the opposite of Arizona’s limited-license model.
2019–2020 — The Launch
Adult-use sales begin December 2019. Flower averages $419 per ounce — the highest launch price in cannabis history. Only a handful of dispensaries are open. Demand is enormous, supply is tiny, and every operator is printing money.
2021–2022 — The Flood
Cultivation licenses pour in. Growers stack licenses to build massive operations. Supply explodes. Flower drops from $419 to $128/oz by 2022. Sales surge to $2.3B as volume compensates for falling prices. Medical begins its collapse — from $481M to $255M in one year.
2023 — The Crossover
Sales hit $3.06B — volume is still climbing, but the price floor keeps dropping. Average flower falls to $92/oz. Medical collapses to $81M. Retailers sell 947,000 lbs of flower. Michigan becomes the #2 market nationally behind California, despite having a quarter of the population.
2024 — The Record Nobody Wanted
Sales hit an all-time high of $3.27B and cross $10B cumulative. But flower falls to $82.50/oz average, hitting $69.20 in December — an all-time low. Retailers sold 1.1 million pounds of flower. More product than ever, at prices that crush margins. Medical: $18M — effectively dead.
2025 — The First Decline
For the first time ever, annual sales fall to $3.17B — down 3.1%. Flower hits $58.20/oz in December — 86% below the 2020 launch price. Active licenses decline for the first time (2,171, down 85). 940 licenses have closed since the program began. 191 growers gone. Then the state drops a 24% wholesale tax on January 1, 2026.
2026 — The Tax Lands
January 2026: the first month under the new 24% wholesale tax. Sales come in at $226.4M — a slow month, typical for January. But flower ticks back up to $59.07/oz, the first month-over-month price increase since 2021. Early signal that the wholesale tax is beginning to pass through to retail. Cumulative adult-use sales: $13.62B.
Michigan Cannabis Regulatory Agency (CRA)
Michigan publishes monthly statistical reports with granular pricing, volume, inventory, and licensing data. The CRA dataset is the most detailed public cannabis market dataset in the country.
$419 → $58/oz
Average retail flower price trajectory. $419 at 2020 launch, $128 in 2022, $92 in 2023, $82.50 average in 2024, $58.20 in December 2025. An 86% decline in five years — the steepest in American cannabis history.
Source: CRA Monthly Statistical Reports
$13.62B Total
Cumulative adult-use sales since December 2019. $3.27B in 2024 (record), then first-ever decline to $3.17B in 2025. Michigan crossed $10B in adult-use alone in December 2024.
Source: CRA / MCIA
$2.2B Taxes
Total state and excise tax revenue from six years of adult-use sales. 10% excise tax + 6% sales tax. Nearly $100M distributed to municipalities in FY2024. New 24% wholesale tax effective January 2026.
Source: CRA / State of Michigan
2,171 Licenses
Active licenses as of December 2025 — down 85 from 2024, the first-ever year-over-year decline. 940 licenses are no longer active since the program began. 430 active growers remain; 191 have closed.
Source: CRA Licensing Data
1.1M lbs Sold
Adult-use flower sold in 2024 — a 17% increase over 2023 and 112% over 2022. Michigan is selling more cannabis than ever. The problem: prices are falling faster than volume grows. Revenue declined for the first time in 2025.
Source: CRA Monthly Reports
2.8M lbs Inventory
As of November 2025: 1.7M lbs frozen flower in storage plus 1.1M lbs fresh at processors, retailers, and growers. That’s roughly 2.5x annual demand sitting in warehouses. The oversupply hasn’t cleared.
Source: CRA (Nov 2025)
Michigan is the floor. Here’s who’s headed there.
Michigan’s compressed pricing is the endpoint that premium markets like Arizona and Illinois are trying to avoid. The question for every operator in a premium market: how long until you’re competing at Michigan prices?

See Arizona’s compression path → | See Illinois’ premium pricing →

Michigan market intelligence, built for your segment
Every product includes MI’s full pricing data plus cross-state context. Michigan’s 86% price compression — from $419/oz to $58/oz — makes it the definitive case study for what happens when cannabis markets mature. The data tells you who survives and why.

Dispensary Operator Stack

For MI dispensary operators
  • Competitive pricing across all MI cities
  • Detroit & Ann Arbor metro deep-dives
  • Price-floor margin analysis by category
  • Dispensary density in saturated corridors

Brand & Cultivator Stack

For MI cultivators & brands
  • Shelf presence by brand across 1,000+ MI dispensaries
  • Category pricing vs. national cost-floor benchmarks
  • Brand survival analysis in compressed market
  • Distribution coverage gaps by region

Investor & Analyst Stack

For investors evaluating MI
  • Compression case study: $419/oz to $58/oz documented
  • Revenue-per-store sustainability analysis
  • License density vs. revenue viability
  • Cross-border dynamics (OH/IL price differential)

940 licenses closed. The survivors need an edge.

Hyperlocal competitive intelligence for Michigan operators navigating the most compressed cannabis market in America. Know who’s pricing what, where the gaps are, and where consolidation is creating opportunity.

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