Marketing has been taking place in Galt since, at least, 1830. The first "market" by-law is dated July 23, 1866 and, among other things, specified how produce was to be weighed. As an example, the use of any weighing devices other than those provided by the municipality were forbidden. The market would charge the farmer a daily fee of 10˘ to park his wagon on Market Square. This also covered the municipal licencing fee to the farmer to sell his produce for that day. This dime is also thought to be the first parking fee ever instituted in the City of Cambridge. At that time, marketing was held daily except on Sundays.

In 1858 the new (at that time) town hall was constructed to house municipal administration and the expanded need for marketing space. Growth of the town forced municipal administration to consider a separate market building. This construction was undertaken just a few hundred metres down street.

The market, pictured above designed in the Romanesque revival style by Fred Mellish, a local architect, was built in two stages. The first portion, the single story part, was constructed in 1887 to ease overcrowding in the basement of the (then) city hall where marketing was conducted up until that time. Even then, it was thought that the new market building was too small and less than 10 years later, in 1896, the two storey section was added onto the front of the original structure.

This addition features a distinctive arcaded tower entrance pointing the corner of Ainslie andDickson Streets. The main floor of the building, where the market takes place, is 3,500 square feet. The second floor, which covers only a portion of the main floor, has (seemingly) always been used as community rooms.This addition features a distinctive arcaded tower entrance pointing the corner of Ainslie and Dickson Streets.

From 1896 to 1903 the second floor was home to the reading room of the Galt Mechanic's Institute. This "reading room" was forerunner to the public library. Those upper rooms also served as headquarters rehearsal hall for the Galt Kiltie Band.

In (approximately) 1977 the upper rooms were renovated and are now used as meeting rooms by the City of Cambridge. During the restoration, a sandstone fireplace was discovered in the Preston Room.

Today, the market is open from 5:45 a.m. to 1:00 p.m. on Wednesdays and Saturdays between Victoria Day and Thanksgiving and Saturdays only for the rest of the year.