Villa, who moved from Valencia to the Nou Camp before the World Cup, expected Torres to move on after Liverpool finished a lowly seventh last season and failed to qualify for the Champions League.
And he believes unless they turn things around in the coming campaign, Roy Hodgson's side will lose their star striker.
"I am actually a little surprised. It looks like Nando is staying,'' Villa is quoted as saying by the Daily Star Sunday. "After I spoke with him at the World Cup I thought he would sign for Chelsea.
"I think it must only be that Chelsea did not meet Liverpool's valuation. Because, if they had, I am sure he would have made the move.''
"This is Liverpool's last chance to keep him. They have to prove they are capable of challenging on all fronts this season, otherwise he will be gone. If Liverpool fail to win anything I am sure he will be at Chelsea next summer.''