How to determine market saturation?

[Jacob Knowles]

Hello, Thanks in advance for reading. I am considering building a higher end duplex complex consisting of 8 duplexes (16 units). I already own a vacant lot ready for construction. My question is how do you determine the saturation of a market. The town for the past 6 years has been seriously under housed. People are catching on to that and are building new properties. There are roughly 100 new units currently being built that are in the same market I am considering. I am not sure what the scale of the demand is. Are these 100 units nothing in the grand scheme of things? Or will they saturate it? My thoughts are its not going to touch it but I would like to know with more certainty before investing. I am hoping someone could point me in the right direction in learning how to do a market analysis/should I pay for one/are they accurate? 

Thanks, Jacob.