Connecticut’s recreational marijuana market is growing according to new statistics from the Department of Consumer Protection.
In their most recent report, the department noted that the adult-use recreational market had $10.2 million in sales during the month of April, up from $9.56 million the month before. Meanwhile, medical marijuana sales totaled $11.4 million in April, down from $12.57 in March. This is according to preliminary data.
This marks the closest the two sales totals have been since the Department of Consumer Protection started tracking these sales in January. Recreational sales have been on a steady rise since the start of the year, doubling in the three months since January’s $5.1 million total.
Interestingly, the increase in revenue of recreational marijuana comes at the same time that prices appear to be going down. The average price of adult-use marijuana products was $39.50, a decrease of about $5 from January’s high of $44.61. Medical marijuana prices have remained relatively constant, fluctuating only around $1.
Those prices include the average cost of all marijuana products, including vapes, edibles, and raw flower. They are also still high when compared to neighboring states like Massachusetts, where the price differential can be as high as 88% depending on where you shop and which products you purchase.
Industry leaders have chalked this difference up to the Bay State’s more mature market, where shops started selling recreational products five years ago. Hundreds of stores have opened up in the state in that time, leading some to believe Massachusetts has started to reach market saturation.
As more stores open up in Connecticut, consumers are likely to see continued decreases in price.
