Prices of Super Bowl tickets on the secondary market plunged nearly 10 percent three days before the game, even in light of a better weather forecast for Sunday's evening kickoff at the New Jersey Meadowlands, according to online ticket tracker TiqIQ.
(Read more: Why Super Bowl ticket prices keep dropping)
Between midnight EST Wednesday and 3 p.m. Thursday, average ticket prices declined by 9.4 percent— to $2,567 from $2,834—part of a steady decline since the Seattle Seahawks and Denver Broncos secured their Super Bowl contest two weeks ago. Prices continued to drop into Friday morning, amounting to a 38 percent decrease since Jan. 19, said Chris Matcovich, vice president of data and communications at TiqIQ, an event ticket search engine that tracks ticket market prices.
On Monday, TiqIQ CEO Jesse Lawrence told CNBC that the first Super Bowl in the Meadowlands could also be far cheaper than its proximity to Wall Street would suggest, undermining expectations.
(Read more: Betting on the Super Bowl — Wall Street style)
"Compared to other Super Bowls this is actually going to end up being one of the cheapest in the five years we've been tracking the market," Lawrence said on "Squawk on the Street."
The game marks the first time the NFL decided to hold a Super Bowl at an outdoor arena in a cold weather region. After this week's cold spell, temperatures could reach 40 degrees by kickoff Sunday. Ticket sales picked up slightly Thursday based on the warmer weather forecasts, according to SeatGeek, a search engine for ticket sales.
Other reasons for declining prices include weaker-than-expected demand from the business community and general disinterest from local football fans, who usually bail out ticketsellers as Super Bowl game day approaches, Matcovich said.
(Read more: Chart of the Day: Super Bowl chips & dips)
That trend might change by kickoff, however, data from SeatGeek suggests. Over a two-day span this week, almost a fifth of ticket buyers came from New York state, with Washington state residents closely trailing with 17 percent of sales. New Jersey residents made up 10 percent of sales during that period, and Colorado fans made up 8 percent.
As of Friday morning, the cheapest ticket price posted on the secondary market was $1,247, according to TiqIQ
—By CNBC's Jeff Morganteen. Follow him on Twitter at
@jmorganteen and get the latest stories from "Squawk on the Street."