By pancakenap in Data Summary — Dec 18, 2024

2024 Year in Review - Cannabis Purchases and Prices

Thank you for joining me for this year’s roundup of whole flower cannabis reviews. Throughout 2024, I reviewed a variety of products from a variety of brands, and today, we’ll analyze the data: number of purchases, costs, and trends across different markets and package sizes.

Number of Purchases Over Time

I’m buying cannabis less frequently but opting for larger package sizes at a lower cost per gram.

This year, I purchased 38 products, totaling $2,516.31 and 539 grams of cannabis. Compared to previous years, the monthly number of reviews has been declining.

Since 2016, the frequency of reviews per month has gradually decreased, with a high of eight reviews per month and some months with none. However, while I’ve been reviewing fewer products overall, I’ve shifted toward purchasing larger package sizes. This trend aligns with a reduction in average spending per gram.

The distinct count of reviews, monthly price totals (in dollars), sum of package sizes (in grams), and the running sum of package sizes (in grams) are shown above.

Number of Purchases by Market

Cannabis purchases this year were sourced from three markets: the medical, recreational, and traditional markets. Unlike previous years where buying spiked in November, this year saw no such peak—I only made one purchase that month.

The absence of significant purchasing peaks this year reflects a more deliberate approach, focused on specific interests or responding to notable deals.

Average Price Per Gram Over Time by Package Size

Breaking down average prices per gram by package size, here’s how costs have evolved since 2016:

• Eighths (3.5g): Starting at $9.89 per gram in 2016, the price I've paid has decreased to $6.53 per gram.

• Quarter-ounce (7g): Prices have dropped from $9.59 per gram to $5.77 per gram.

• Half-ounce (14g): Costs have reduced from $8.93 per gram to $7.24 per gram.

• Ounces (28g): Prices have fallen significantly, from $8.33 per gram (in 2018) to $5.68 per gram.

Moving average price per gram with respect to package size.

Average Price Per Gram Over Time by Package Size and Market

Now we'll break down the data by market. We'll rundown the notable insights:

• Eighths (3.5g): Recreational market prices have dropped from $11.43 in 2016 to $7.51 by the end of 2024.

• Quarter-ounce (7g): In the medical market, the cost per gram was $10.85 in 2020, decreasing to $7.47 in 2024.

• Half-ounce (14g): Traditional market prices have dropped dramatically, from $8.93 for premium strains like Beard Brothers Blue Dream in 2016 to $3.54 this year for similar quality.

• Ounces (28g): The most dramatic price difference is seen in the traditional market, where the cost per gram dropped from an average of $8.20 in 2018 to $3.17 in 2024. Recreational prices also fell, from $8.73 in 2023 to $7.17 in 2024.

Moving average price per gram with respect to package size and source market.

Average Price Per Gram Over Time by Market

Now we step back in granularity and examine costs across markets regardless of package size. I've also added purchases of 5 and 10 gram packages made in the medical market, now that we've removed the package size dimension. Here are the latest averages:

• Medical Market: Average price of $7.90 per gram.

• Recreational Market: Average price of $7.51 per gram.

• Traditional Market: Averaging $3.17 per gram.

Moving average price per gram with respect to source market. A thicker line on the price graph indicates larger package sizes, which correlates with lower costs per gram. Larger package sizes are purchased from the traditional market, which is reflected in the cost per gram.

For this year we had fewer purchases, larger package sizes, and a preference for value. While costs in the medical and recreational markets remain similar, the traditional market consistently offers the lowest prices, particularly for ounce-sized packages.

Stay tuned for tomorrow’s post, where I’ll analyze the specific offerings reviewed this year and identify standout highs and lows.