Tregaron received its royal charter as a town in 1292. It owes its origin and growth to its central location in the upper Teifi Valley. It was the market town for the scattered agricultural communities in the broad, fertile countryside to the south and the rich landowners with extensive holdings in the uplands to the east, the home of many sheep and few people. To the north was Cors Caron which was a fertile land when drained, and to the west a hilly region with self-sufficient farmers on smallholdings of a few acres. These people all converged on Tregaron for the weekly market and the annual fair, "Ffair Garon", where the sale of poultry, pigs, cattle and horses took place. The charter for the yearly fair was granted by Edward I in the 13th century. Sheep fairs were held in May and June and two hiring fairs took place in November. A large number of taverns and inns in the town catered for the influx of country folk to these events.