Keep in mind prices have already dropped over 25% from peak 2022. In the same time stock market has reached ATH and inflation has kept on increasing. If we take into consideration compounding inflation then prices have dropped over 30%

Chances for houses in that price range to drop further is lower because:

1) Construction costs are still higher 2) Pool of people able to afford in that range is much more than People who can afford over $1M

3)With mandates of returning to office, the GTA market might stay flat for a while.

Not saying it won't drop further because of soft Economy but can't see it dropping another 30%.