New Mexico’s Cannabis Sales Continue to Climb Two Years After Legalization
More than two years after recreational marijuana became legal in New Mexico, cannabis sales continue to surge, reflecting the growing demand for both recreational and medical products across the state. According to the latest data, New Mexico collected over $50 million in cannabis sales in July 2024, marking an increase of roughly $2 million compared to July 2023. Since the legalization of cannabis sales in April 2022, the state has generated more than $1.26 billion from this booming industry.
Major Cities Lead the Way in Cannabis Revenue
New Mexico’s largest cities, including Albuquerque, Las Cruces, and Santa Fe, are leading the charge in cannabis sales. Albuquerque alone has generated over $414 million in sales, with Las Cruces and Santa Fe each hovering around the $90 million mark.
“The cannabis industry in New Mexico officially surpassed $1 billion in combined adult-use and medical sales in March 2024,” said Todd Stevens, director of the New Mexico Cannabis Control Division, in an email. “While we continue to see large cities top the list of sales from this new revenue stream, smaller communities in every corner of the state are also reaping the benefits and proving that New Mexicans value having the choice to consume regulated cannabis products.”
Sunland Park Rises as a Cannabis Sales Leader
While Albuquerque, Las Cruces, and Santa Fe dominate the state’s cannabis sales, the border town of Sunland Park has emerged as a significant player. Since the start of legal sales, Sunland Park has collected over $84.7 million in total sales, ranking it just behind the top three cities.
Sunland Park’s impressive performance continued throughout the summer months, securing the second-highest sales numbers in New Mexico, trailing only Albuquerque. In May, Sunland Park’s sales exceeded $4.6 million, followed by $4.4 million in June and another $4.6 million in July. This consistent growth highlights the town’s strategic location on the Texas-New Mexico border, which draws in cannabis tourists from neighboring states.
Cannabis Sales Surge in Border Cities
Other Texas-New Mexico border cities are also experiencing steady cannabis sales, driven in part by cross-border tourism. Alamogordo, Chaparral, Ruidoso, and Portales have all reported strong numbers, though none match Sunland Park’s figures.
For example, Alamogordo raked in over $1.1 million in May and July, with June’s sales close behind at $1.08 million. Chaparral saw sales nearing $1 million each month throughout the summer, while Ruidoso and Portales maintained stable but slightly lower figures.
Top Cannabis Dispensaries in New Mexico
With more than 700 dispensaries now operating across New Mexico, a few key players have emerged as top-grossing locations. Two Sunland Park dispensaries, Dark Matter and Fields of Dreams, claimed the top spots in cannabis sales throughout May, June, and July. Dark Matter consistently brought in nearly $1.5 million each month, while Fields of Dreams hovered around $900,000.
In Albuquerque, the Cookies dispensary has maintained a strong presence, consistently ranking third in sales, with figures around $800,000 each month. Beyond the top spots, other dispensaries in Sunland Park, such as Pecos Valley Production and R Greenleaf Organics, also performed well, consistently ranking among the top 30 in the state.
A Booming Industry with Room to Grow
The continued rise in cannabis sales across New Mexico highlights the strength and growth potential of this young industry. As the state continues to embrace cannabis, both for recreational and medical use, the economic benefits are becoming increasingly clear. Smaller towns like Sunland Park are proving that even outside the major cities, the demand for regulated cannabis is strong, and the industry’s growth shows no signs of slowing down.
With over 700 dispensaries across New Mexico and continued interest from consumers, the state’s cannabis market is poised for even greater expansion in the years to come.
