The blaze burnt through more than 140 hectares amid scorching temperatures and fanned by strong winds on Thursday.
By Friday it was largely contained, with several hot spots still being tackled by fire crews, while the town's rubbish dump was expected to burn for several days.
Fire in the dump was producing a potentially toxic smoke cloud, prompting a warning for nearby residents to stay indoors if possible.
Country Fire Service Chief Officer Brett Loughlin said 23 properties were impacted by the fire in some way, with commercial premises among six buildings destroyed.
He had no reports of homes being lost.
But Mr Loughlin said many more properties were saved than lost and lives potentially spared thanks to the quick and heroic work of fire crews.
"This fire started within 80 to 100 metres of the first property that was impacted so it is the truest definition of a fire that rapidly impacts assets," he said.
"The life-saving work of firefighters yesterday cannot be understated. There are dozens of properties that are still standing today, lives that are continuing today, thanks to the heroics of the men and women on the front line.
"The significant work by our crews in horrendous conditions has saved far more than was lost."
On Friday, 12 fire trucks and 50 firefighters continued to work across the fire ground. They were being supported by water bombers, with the CFS concerned about the prospect of more severe weather next week.
"We will be in this area for days to come. We have more challenging weather that is forecast so we have to get a lot of work done between now and that weather," Mr Loughlin said.
Emergency Services Minister Joe Szakacs said he would take some further advice on the cause of the blaze but said he could understand the community's anxiety over any potential ignition point.
At one stage on Thursday, an emergency warning was in place with some residents warned it was too late to leave and a local primary school was evacuated.
The dangerous blaze came on the 40th anniversary of Ash Wednesday in South Australia when 28 people died and more than 350 homes were destroyed by major fires in the Adelaide Hills, the Clare Valley and the southeast.
