Increased number of rentals in area of purchase

[Christopher Andreas]

I am a new real estate investor currently looking for my first deal.  I'm considering a property and was looking on Craigslist to gage what other rents are looking like for the area.  There were a good number of rentals (around 13) for not an overly populated area.  The posts were anywhere from 2 months- 20days old.  Could this be a warning sign that the rental pool is saturated? or perhaps more indicative of the time of year I am looking?  The property is in upstate NY located close to two universities.  Anyways, any feedback would be appreciated. Thanks!