Villa has arguably been the player of the World Cup so far and his fifth goal of the tournament took Spain into the semi-finals at the expense of Paraguay on Saturday night.
The striker flourished into one of the world's finest finishers at Valencia but on May 19 joined Spanish champions Barcelona in a £35 million deal.
United were interested in Villa but Ferguson admits he would have been unable to persuade the player to shun a move to Camp Nou and the chance to play alongside international team-mates like Andres Iniesta and Xavi.
"We've looked at a few options," Ferguson told the Mail on Sunday. "We did consider David Villa but he was always going to Barcelona.
"I just don't believe there is value out there at the moment. I'm very happy with the strength of our squad as it is."
United's own star striker, Wayne Rooney, had a very disappointing World Cup as he suffered from poor form and England were knocked out of the competition by Germany in the second round.
Ferguson has dismissed suggestions that fitness problems were at the root of Rooney's poor displays and says he expects the forward to be back to his best at the start of the domestic season in August.
"There's nothing wrong with the lad or his fitness," Ferguson said. "He's relaxing on holiday in Barbados and I expect him to come back refreshed for the new season."