peaches for 2007?

when we first started living here a couple of years ago, marco threw a peach pit (from a peach tree from my grandma's house) in a bucket of water, mainly, i think, to have it disintegrate in there and so that there might be some sort of nutrients in the water when he watered his other plants. but the little peach that could sprouted up, to our surprise and bemusement, and marco decided he would plant it. two and a half years later, we have a pretty good sized sappling that has leaves in the spring and now, this year, peach blossoms! could that mean we're getting peaches for 2007? unfortunately, i am allergic to fresh peaches (they make my mouth & throat itch) but it's kinda cool to think that 3 ft. tree came from just a little peach pit that we tossed away but refused to be tossed. :)