Am I screwed? Did I mess up? Should I start over?

This is my first play through of the game and I feel like I'm kind of screwed. So I built a home and all the weapons it lets me build at the start of the game. I read that this is all you need to defeat Eikthyr. I rested and buffed up with food and then went and summoned him. Here is what I didn't realize may screw me: The alter to summon Eikthyr in this seed is right next to the Stone Circle.

So I summoned him I did about 10% damage and he killed me. I respawned at my house and he charged towards my house and I ran for my body to get my weapons. While I was doing that he destroyed my house. I got my weapons and attacked. I did another 15% damage before he killed me again. This time I respawned in the Stone Circle. He is only yards away between me and my weapons. I try to get to my weapons and he kills me before I do. Again I respawn right next to him, try to run to my weapons…same result. Rinse and repeat. I've died like 15 times now and I have only done like 30% damage to him. He is standing next to the Stone Circle when I respawn and I can't get to my gear without getting killed. I even tried fighting him unarmed a couple of times to no effect.

So I'm thinking of just deleting this play and starting over. Is there anything I can do to salvage this?

UPDATE: I logged back in on my lunch break. I was standing in the Stone Circle and he was in the meadow 10 or 20 meters away. I turned and ran into the woods. There was a river nearby I explored earlier. I ran towards it. Eikthyr was close behind shooting lightning at me. The river is at the bottom of a steep ravine. I jumped off the edge of the ravine into the river. Eikthyr followed me down the ravine. A fucking Neck killed me. lol. I respawned at the Circle. I run for my gear and grab it. I arm myself and wait for Eikthyr to return. After waiting for 5 minutes he doesn't show up. I run to the ruins of my house. My workbench is still intact. I start building as many arrows and extra weapons as I can. Eikthyr still hasn't returned. I start rebuilding my house. Eikthyr still hasn't returned. I now think I may have trapped him in the bottom of that ravine. I'm going to rest up and then go hunt him down.

UPDATE 2: I got my bow and loaded up with 100 arrows. Went back to the ravine and began kiting him. I got off about 20 shots and my bow broke so I switched to axe. He got out of the ravine and I died again, but I got him down to 50% hp before he killed me and I kept him away from my spawn point and workbench. Now I am reequiping from scratch instead of going back and recovering my gear.

How quickly does the Eikthyr heal?

UPDATE 3: thanks for all the offers of help, but I need to conquer this on my own.

UPDATE 4: Guys, I had no idea the workbench could be upgraded. I just figured that out. So apparently I went into this fight with subpar equipment. Working on correcting that tonight.

UPDATE 5: So my bow skill was only 2. Apparently that isn't very good. So tonight I hunt and kill with only the bow to drive that skill up.