Over the past year, the price for 1/8th of an ounce of recreational pot dropped as much as 40% in Colorado, according to a report from global brokerage services company Convergex, which recently surveyed several marijuana dispensaries in the Centennial state. Convergex reports that the average price for 1/8th of an ounce dropped from between $50 and $70 last June to between $30 and $45 now. The price of a full ounce is now between $250 and $300 after selling for roughly $300 to $400 a year ago.

One reason the cost of getting high is getting lower is because of increased competition from new dispensaries and the expansion of growing facilities. The limited number of dispensaries allowed to sell recreational marijuana during much of the first year of legal sales were able to keep prices relatively high, but prices have come down as more and more entrepreneurs get dispensary licenses and enter the market. At the same time, the report by Nicholas Colas, Convergex’s chief market strategist, notes that “it is also a natural result for any maturing industry as dispensaries try to find the market’s equilibrium price.”

The report also notes that, while the number of customers dispensaries tend to see from day to day has remained fairly constant over the past year, the amount each customer spends is on the decline, with the diminishing novelty of legal recreational pot possibly resulting in an increase in restraint among customers.