Dear Condoforsale,
My suggestion is to have another price opinion and market update done on your home by another local Realtor. It may be to soon to pull the plug on your listing, but it depends on what your showing activity has been like and the comments from the showings from the buyers and agents. Is there a common theme or subject that is being brought up? How is your condo priced compared to everything else in the area? How many condos have sold this week, month, quarter, 6 months and the past year? This will give you a good idea of what you should be priced at and what you should expect in this market.
Also, I agree that staging a home and having it move in ready is the best way to sell a home. If you have no luck selling it I don't know if I would rent it out. This may work, but most of the time when a client of mine has rented out their place to get some rent money out of it while they are not living there has regretted it. The renter usually won't take care of the property and you will have to work extra hard to get it back into shape to sell it next year.
Condos typically sell at a fast pace in the spring through the summer. After this time frame it is and will be a slower market for showings and offers on condos that are for sale. This is a the normal cycle for this area in Madison and the surrounding communities.
If you would like more help on this matter, don't hesitate to ask as there is no obligation to do so. Best of luck!

Charlie Wills http://www.CharlieWills.FirstWeber.com

You have several questions here. First off an empty unit statistically takes longer to sell than a unit with furnishings. The unit will show better with furniture, art work and decorating. Second renting. This may be a good option if the market in your area is not moving. The rent will cover your carring costs such as taxes and utilities until things pick up. Keep in mind that you will now have the responsibility of being a landlord. Third, pricing is key in this market if you really want to sell. Trying pricing it just below your competition. This may make it a little more appealing to buyers. Also, look at how much you can or can not make on selling your current unit. Will selling it make money, break even or loose money. This may be the deciding factor as to whether to sell now or later. Good Luck