Las Vegas valley home prices continued their record-setting pace last month, and a local industry group is expecting a warm winter for the housing market.

The median price for a single-family home in November was $420,000, up from the previous record of $410,000 set just the month before, according to Las Vegas REALTORS.

November's median price is also up nearly 22%, from $345,000 one year ago.

Condos and townhomes sold in November set a new record with a median price of $240,000 as well.

Aldo Martinez, president of Las Vegas REALTORS, said he expects home prices to increase at a "gentler pace" over the next few months as mortgage rates rise.

"We’re probably looking at more modest growth for 2022," Martinez said in a press release. "If our median home prices continue to go up by double digits in 2022, it’ll be the first time we’ve had three straight years of double-digit price growth in more than a decade. The closest we came to that was in 2012 and 2013."

The housing supply remains tight, with 2,850 single-family homes listed for sale without any sort of offer in November, down more than 25% from the same time last year.