Review your loan details for any qualifiers or requirements that may pose restrictions on your ability to sell after refinancing.
What are the terms of the refinancing?
And how are you selling --- as a regular sale or short sale? Are you using a realtor or do-it-yourself?
Many factors to consider. The primary question revolves around your overall COST TO SELL, especially if there is a pre-payment penalty, or if it means hurting your credit rating (as in the case of short sale), or how long it will take you to recoup the costs of refinancing AND selling.