The festivities marked the beginning of farming in the area 155 years ago and the centenary of the Galloway School, which closed in 1941. The school building has been converted into a hall which remains the focal point of the district and is in regular use.
The anniversary celebrations included a dinner on Saturday night, attended by about 60 people, including three former pupils at the school - Hec Clare, of Alexandra, Doreen MacRae, and Ruth Blackwood, both of Mosgiel.
The "good old-fashioned" country fair, complete with a pet parade, children's games and treasure hunt, proved very popular, with families visiting Central Otago for Easter among those who attended, anniversary chairman Nick Loughnan said.
"We didn't know how it would go, but it seems to have struck a chord and gone surprisingly well and we've had people ask if it's going to become a regular event."
Mrs MacRae (nee Kloogh ) said it was lovely to return to the place where she attended school for six years. Her family lived on an orchard at Springvale at the time and later shifted to Port Chalmers.
She was wearing the Galloway School dux medal she received in 1935, as the top girl in standard 6 (form 2).
Mr Loughnan said people with links to the district and school had unearthed a wealth of material, including photographs and other memorabilia, and it was hoped to publish something to mark the occasion.
"The Galloway district's history has never been properly compiled and it is a fascinating part of Central's history."
It was home to Central Otago's first pastoral runholders - the Shennan brothers, Watson and Alexander - in 1857, who were the "fathers" of the New Zealand merino industry, he said.
The Galloway flats became the food-bowl for the region, with orchards and market gardens.
Milk, cream, cheese, butter and meat were all produced in Galloway for the growing towns of Alexandra and Clyde, he said.
In the 1930s, it was the country's "ice-skating capital" with the Manorburn dam providing reliable natural winter ice.