New York cannabis sales are on pace to break last year’s record while still falling short of an audacious prediction the state’s marijuana czar made earlier this year.
But with hundreds of cannabis retailers licensed but not yet open for business, and with half the state still closed to legal sales, there are signs that New York’s momentum is slowing, state Office of Cannabis Management officials said Thursday.
At more than $1.41 billion through the first three quarters of 2026, New York cannabis sales should easily surpass last year’s tally of $1.68 billion, according to data OCM Deputy Director Kevin Brennan presented to the state Cannabis Control Board.
Are New York cannabis sales growing?
That’s lagging behind the $2.6 billion in annual sales that OCM Executive Director John Kagia said was possible in comments made this spring.
Medical sales comprise less than 3% of the overall total, Brennan said.
However, cannabis retailers saw the average annual haul per store decline by 3.4% to about $2.7 million, he added.
And many more retailers may soon come online.
New York currently has 1,039 licensed retailers, according to OCM’s presentation, but of those, only 712 are currently open for business.
With more than half of New York municipalities opting out of retail sales altogether, that new entrants will be competing for customers on the same “landmass” as existing operators, Brennan said.
Average annual sales for retailers on Long Island, where the number of licensed stores grew 50% to 18, declined from $14.9 million to $11.4 million, Brennan said.
Are New York cannabis prices falling?
Prices in New York are still high compared to other states at $27.65 per unit. But while that’s an 8% decline in price since January, retailers are also selling more units, with a 7.3% increase in items sold.
“Customers are buying more, Brennan said.
At about 5.4 licensed cannabis retailers per 100,000 people, the flood of newly permitted retailers means New York is “approaching more saturated markets,” he added.
Which state has the most cannabis stores per person?
According to OCM, New York still has less cannabis retail density than most other major markets.
The number of retailers per 100,000 people across the country are:
- Oregon, 18.4
- Colorado, 14.8
- Michigan, 8.6
- Washington, 7.7
- Massachusetts, 6.9
- New York, 5.4
- California, 4.6
- Nevada, 3.3
- Illinois, 2.3
In a data point that contradicts medical operators’ earlier stated woes, the cannabis stores with the highest monthly average sales are operated by the so-called “registered organizations” who hold one of the state’s vertically integrated MMJ permits.
Dual-use MMJ and adult-use stores operated by the ROs average more than $5 million in average annual sales, more than double the $2.2 million average haul at social and economic equity stores.
