An Ontario mansion just slashed its price by $3 million

The Ontario housing market is in a dire state... Like the Toronto Maple Leafs' chances of winning the Stanley Cup kind of dire.

Recent data shows that almost no one is buying houses, even if they are really nice. 

And while Toronto has definitely seen the effects of this market downturn, the rest of Ontario might be having an even worse time of things. 

The foyer. 

Take 14020 Winston Churchill Blvd., for example. 

Natural stone backsplash in the kitchen. 

This six-bedroom, 10-bathroom mansion with over 10,000 square feet of living space in Caledon is stunning. 

Views from the top of the stairs down into the foyer. 

It's sitting on almost 10 acres of land and is a one-of-a-kind architectural masterpiece, with a grand circular foyer with natural stone floors, lighting from England, and warm wooden panelling along its curved walls.

The family room. 

The house then spans out across two wings from the central foyer. 

The living room. 

On the main floor of the house you have the principal rooms, with modern details, soaring double height ceilings and tons of natural light. 

A bedroom. 

Since the house is shaped almost kind of like a boomerang, you get sweeping views of the surrounding nature from every single room in the house. 

The kitchen. 

The house is full of luxurious details, from the chef's kitchen with a natural stone backsplash and integrated appliances to heated floors in every single space. 

The primary bedroom. 

The bedrooms each have their own ensuites and walk-in closets. 

The gym. 

There's more living space on the lower level of the home with a gym, an extra bedroom, and a large recreation room. 

A view of the back of the house and the empty pool. 

As for outdoor space, there is, of course, the nearly 10 acres of surrounding land and forest, but there's also an inground pool, which is perfect for those hot summer days. 

A mezzanine area overlooking the living room. 

And yet, despite all it has going for it, the house just slashed its asking price from $8,000,000 to $4,999,000. 

A wet bar in the basement. 

Plus, there was also a brief period of time it was listed for only $1, which is a notorious tactic realtors use to try to get bidding going, and even that didn't work. 

A double shower. 

Also not helping its cause is the fact that property values dropped a whopping 15 per cent in Rural Caledon in the last 12 months.

A view of the surrounding property. 

In short, it wouldn't be surprising if this house took a major loss or sat on the market for a while before selling.