Correa has an $11.3 million salary this year and can become a free agent after the World Series.
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"The way things are looking, I don't know right now," Correa aid Thursday. "The first offer I thought it was really low, and if that's how they feel about me and that's where we stand, then I guess I will go out there and play and try to win another championship for the city of Houston and then explore free agency."
Correa said the Astros' long-term offer was made several week ago.
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"There was no conversation after that," he said. "We haven't spoken about a possible extension since then, so I'm preparing like I'm going to be a free agent this year."
Houston opens the season next Thursday at Oakland, and Correa ruled out talks after then.
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"Once the season starts and I start playing, I'm playing my last season before I become a free agent," he said. "For me it doesn't make any sense to be dealing when I'm trying to focus and trying to perform and help my team try to win ballgames, so absolutely not."
Now 26, Correa was selected by the Astros with the first overall pick in the amateur draft in 2012, a year the Astros had their second of three straight seasons with more than 100 losses. He debuted in 2015 and was voted AL Rookie of the Year. Correa was an All-Star in 2017, when he helped lead the Astros to their first World Series title.
Correa batted .264 with five homers and 25 RBIs in last year's pandemic-shortened season and has a .276 career average with 107 homers and 397 RBIs.
"I understand the business and I know how it goes. so there's never emotions involved," he said. "I've given five, six years of my career to this organization, Rookie of the Year, All-Star Games, World Series champions, multiple great playoff performances, and if they don't see me here long-term, then another team will. So, yeah, there's never hard feelings. It's a business. That's how it works."