What is the proper way to track your physical health when you start gaining muscle?

Hi r/fitness, I've been working out consistently (3-5 times a week depending on workload) for about a year now. I started doing heavy lifting for the first time last June and have been lifting heavy 3 times a week since then - I'll do supplementary exercises or cardio on days that I don't lift heavy. Near the end of this year I started seeing a visual difference, but I also noticed that my weight started going up. When I first started working out, my weight was around 221 - after a few months of working out my weight dropped to about 203. Around this time is when I started lifting heavy, I then saw myself gaining more weight down the line. This month, I weighed in at 212. I know it's not something I'm doing wrong because I see a visual difference and feel stronger. I have been supplementing with protein and was taking creatine for about 6 months (off of it now) - not to mention my squat alone has gone from 130lbs to 265lbs since I started lifting.

My questions is how do I measure my physical health? I am getting heavier and gaining muscle but by BMI standards I am overweight. Does the BMI chart become irrelevant at some point, or can I still use this as a point of reference? Should I instead be taking measurements and calculating my body fat %? Any insight on how to monitor this so I can set some personal goals would be much appreciated.

Thank you!