568 New Mexico Dispensaries Have Closed. There Are 588 Left.

Since adult-use sales began in April 2022, 1,353 licensees have reported cannabis sales in New Mexico.

588 of them reported sales in July 2026.

That means roughly as many dispensaries have gone dark as are currently open. We arrived at that number carefully: 166 of the apparent closures turned out to be name changes, where the same street address kept operating under a different licensee name. Those are excluded. What remains is 568 that stopped reporting and whose addresses have not reappeared.

This is not a surprise to anyone in the industry

New Mexico issued licenses with no cap and low fees, an intentional choice meant to make the market accessible to small operators rather than only to well-capitalized chains. It worked, in the sense that a lot of people got licenses.

It also produced what retailers describe as fighting for oxygen, with far more storefronts than the customer base supports and price compression that has made New Mexico one of the cheapest cannabis markets in the Southwest.

Our sales data shows why that pressure has not eased: statewide sales have been essentially flat since mid-2023, moving between roughly $44 million and $52 million a month. The store count grew into a market that stopped growing.

The legacy operators went first

Sacred Garden, founded in 2010, one of the businesses that built New Mexico's medical program, last reported sales in September 2024 across seven locations totaling roughly $10 million.

Minerva Canna, founded in 2011, last reported in October 2024, nine locations, roughly $14 million.

Both are consistent with reporting at the time that legacy medical operators were the most visible casualties of oversaturation.

The largest single group of closures

The biggest cluster we can identify in one month is the 23 R. Greenleaf and Everest locations that stopped reporting in March 2026.

The full list

We have published every closure we can identify, with the city, when it opened, when it last reported, and how long it lasted. A few dozen operated for under six months.

Data: CCD monthly Market Sales by Licensee files, April 2022 to July 2026. "Closed" means the licensee stopped appearing in the state's monthly sales filings and its address has not since been reported by another operator. It does not mean a license was revoked.