New Mexico cannabis sales are holding steady in 2026, with the latest sales figures suggesting the state has moved past an early legalization growth spurt and into a more mature phase.
Through the first half of the year, New Mexico cannabis retailers reported about $284.9 million in combined adult-use and medical marijuana sales, according to the New Mexico Regulation & Licensing Department.
Last year, New Mexico cannabis retailers reported $567 million in total sales, a nearly 25% increase from 2024, according to the MJBiz Factbook.
In July, overall monthly cannabis sales totaled $49.8 million, per state data, for a seven-month total of roughly $332 million.
Which New Mexico towns lead in cannabis sales?
Both densely populated urban areas as well as locations near Texas, where legal cannabis sales are restricted to medical marijuana, are sales hotspots.
According to state data, leading New Mexico in cannabis sales are:
- Albuquerque, clearing about $14.5 million in total sales in both April and May before dipping to $13.7 million in June.
- El Paso, Texas, suburb Sunland Park, ranking second statewide with monthly totals between $5.3 million and $5.8 million across the second quarter.
- Las Cruces, New Mexico, at $2.6 million to $2.7 million a month.
Sunland Park’s strength comes largely from Texas customers crossing the border because cannabis remains illegal in that state.
The cross-border demand has made the town the top seller across the state line, but it also has drawn scrutiny.
In May, the Sunland Park City Council rejected special-use permits for two proposed retailers – Station X Cannabis and Cronica Cannabis – after Texas lawmakers raised safety concerns about customer routes leading back into El Paso.
Other border communities continue to grow.
Chaparral pulled in about $3.2 million in the second quarter, up more than $200,000 from the first, according to the El Paso Times. Santa Tersea climbed to more than $508,000, up from $445,000.
Why is New Mexico’s cannabis market stable?
Small local operators dominate in New Mexico, buoyed by an annual license fee of just $2,500.
The state now counts 47 retail outlets per 100,000 residents, one of the highest cannabis retail densities in the country, and cannabis sales have generated more than $205 million in tax revenue.
But prices have softened.
The average transaction has fallen from about $50 in 2022 to about $38 today.
Yet consumer demand hasn’t followed suit, with sales volume remaining firm, as MJBizDaily has reported.
