The 24-year-old has been in impressive form for Dean Smith's side during the 2019-20 campaign, scoring nine times and contributing eight assists in 31 appearances in all competitions.
Villa are currently 19th in the Premier League table, though, and face a battle to stay in England's top flight, should the 2019-20 campaign be allowed to safely resume in the coming weeks.
Manchester United continue to be linked with the Englishman and had reportedly hoped that the attacker's price would drop to £50m if Smith's side were relegated.
However, according to The Mirror, the strugglers will not be lowering their £80m valuation even if they drop back down into the Championship.
Grealish's current deal at Villa Park is due to run until the summer of 2023.