... Human Head in the meantime is working on the second game, which will take place in 1886 -- we're assuming the Stranger won't have a part in this adventure, though you never know… time travel? The third in the series, taking place way back in the witch-tastic days of 1785, is under development by Ritual, a company busy at work on another movie-based game, F.A.K.K. 2. According to USA Today, the other titles will release in September and October, respectively.

However, I've heard through the grapevine that Ritual wont be doing the 3rd game as I mentioned last year. 10:30am update: It looks like Ritual is in fact doing the Blair Witch game, here is confirmation from Mark Dochterman of Ritual: 

We are making the 3rd BW game.  It is true.  We will begin production in February.
Thanks,
Mark D