But the winger has revealed he has received some 'exciting' offers from clubs in Europe and is considering a possible move away from the Premier League.
Townsend is among a host of Palace players who are out of contract with the club this summer, in a long list that also features Christian Benteke, Patrick van Aanholt, Gary Cahill, James McArthur, James McCarthy, Joel Ward and Mamadou Sakho.
The Eagles stars were all told by the club they were not prepared to discuss their futures until the end of the season.
However, the 29-year-old winger says they have now all been told to wait a little longer for that talk, until after Roy Hodgson's successor as manager is decided.
With just weeks to go until their contracts are up - usually running until the end of June - it means plenty of them will already be thinking about their futures.
Townsend is one of them, and it appears the former England international will have no shortage of options ahead of the transfer window.
However, he has not ruled out a possible Palace stay.
Asked what is happening over his future, this summer and beyond, Townsend said on Wednesday's talkSPORT Breakfast: "Erm, I don't know at the minute.
"I've had a few offers from oversees and now I'm waiting hopefully - with the season over - for the Premier League offers to come in.
"Then I'll just sit down with my agent and see which is the best offer for me at this time of my career."
Townsend is not ruling out a stay at Crystal Palace, although revealed on Wednesday morning that no new contract offer has been presented by the London club yet, with only weeks to go until his deal expires.
"They basically sat us all down just before the end of the season and said: 'Listen, the new manager is a couple of weeks away, let's wait and see what he wants and then we'll give you a call'.
"In February/March I was bricking it. I was thinking, 'what am I going to do next season?' I wasn't in the team at the time, I've got kids to feed, all that stuff.
"But now I've had my first solid offer in, I'm chilled. I'm a bit rosy now, what happens happens, let the rest of the offers come in and then I'll make a decision after that.
"There's a big possibility I'll stay at Palace. They said, specifically to me, they would like me to stay but they want to see what the new manager thinks.
"So unless the new manager is a manager I've fallen out with in the past - and with the younger Andros there were maybe one or two! - hopefully I should be ok. Hopefully that's not the case!"
Asked about his offers to move oversees, and whether he is open to a move away from England football, the winger revealed: "They're from Europe, one is from the area around from Turkey.
"I'm very fortunate my kids are not yet in school, so my Mrs is not fussed. She actually said to me last night, if we have to go somewhere, especially if it's a sunny place, she'll be happy.
"I've got a very supportive family, with kids who are young enough to travel the world. So I'd love to stay in the Premier League, but who knows? It's very exciting."