Marc and Patti hit the nail on the head. If you just bought it, even if prices were stable, you'll still have to come out of pocket by maybe $40,000. Ouch!
You say you don't like to live in it. OK. What is it that you don't like? Are the problems correctable? New paint and carpet? Outdated baths? Old kitchen? You can live with those, at least for a while. And if you need new baths, or paint and carpet (or, frankly, even a new kitchen), it'll cost less than $40,000. And those improvements will either add to your house's value, or make it easier to sell when the time does come.
Other things may just force you to grit your teeth. Maybe you went from a 20 minute commute to a 60 minute commute. (That's what happened to me the last time I changed jobs.)
Now, everyone's different, but the only thing that would really make me sell now and swallow a $40,000 loss is if I felt that I or my family were unsafe in the new house or new neighborhood.
I was in a situation sort of similar to yours. Back a while ago, my wife fell in love with a house. I hated it on first sight. It had a huge, unusable great room...the bedrooms were too small...it had no dining room...it was on a gravel road...it had a swimming pool that I knew would be a pain to keep clean...my commute went from 20 minutes to close to an hour...and on and on. But she loved it, and women wield a lot of power when it comes to buying houses. It took her about 6 months to realize the purchase was a mistake. It took us 1-1/2 years to sell it and break even. The point is: Sometimes you just have to grit your teeth and make the best of an unpleasant situation.
But, again, to address your specific question: No, now is not a good time to sell (in general). And while you absolutely should get a CMA from a Realtor and discuss your situation with him/her, it's unlikely to be a good time for you to sell a home you "just bought."