Is the Michigan cannabis market oversaturated?

A net license decline after years of growth typically means marginal operators are exiting faster than new applicants enter, usually because compressed wholesale pricing has made thin-margin operations unsustainable. That is consistent with $58.18/oz average flower pricing, down sharply from triple-digit pricing three years earlier, per the CRA.

Statewide aggregate figures mask real variation: some municipalities remain closed to new entrants with waitlists for their capped licenses, while others sit well under any cap and are actively courting applicants. Municipality-level opt-in status and cap utilization, not the statewide trend line, is what determines whether a specific market is actually saturated.