For sure, I agree with you. My condo downtown at the waterfront has not gone down, but up.  Zolo has great stats on GTA cities.

https://www.zolo.ca/toronto-real-estate/trends

For those who are not aware, you can press the button "Neighborhoods" at the top of page (Zolo.ca) and check every neighborhood of Toronto (with neighborhood specific charts on average price, median price, sales, inventory and prices per type of property for the past year!). You can do the same for all of GTA and Canada!