Last season, Wells contributed 10 goals from 43 appearances as the Terriers earned promotion to the top flight, but the 27-year-old now finds himself down the pecking order after the signings of Steve Mounie and Laurent Depoitre.
The 45-year-old told reporters: "The scenario is that we have high quality in our offensive line. This means I'm still open to speak if there are any serious offers for him. Is he on the market? Yes, he is. Will he move? I don't know. The window is open so we will see what happens.
"Nahki is totally aware about his situation, I had an honest conversation with him regarding his future at the football club, what my thoughts are, what the club's thoughts are, now we will see which serious offers will come on the table then we have to decide."
Since signing for Huddersfield in January 2014, Wells has netted 49 goals in 153 matches in all competitions.