The 24-year-old defender is due new terms at the club once he has played 60 games for Villa.
Davies joined Villa from West Brom for £10million in August 2008 after a successful loan.
Davies played 58 games before being sidelined until Christmas following shoulder surgery and manager Martin O’Neill insists the defender has to complete two more games before being offered new terms.
Davies is currently one of Villa’s lowest earners on around £25,000-a-week.
Davies’ agent Phil Sproson said: “It is slightly disappointing given the circumstances of Curtis’ injury and the fact he played on when the club were low on numbers.
“We hoped it could be sorted sooner rather than having to wait for Curtis to play his allocation of games.
“But it’s the club’s prerogative and we respect Martin’s decision.
“We’ll have to look at the situation in January when Curtis is available and plays two more games.”