Apparently Tom Holland has been working on a Fright Night 3 movie based off his Fright Night 3 novel which follows within the timeline of Fright Night (1985) and Fright Night 2 (1988).
In addition, he is working on a direct sequel to Fright Night (1985) titled Fright Night 2: Resurrection.
This sequel is planned to keep the continuity after the original Fright Night movie and to be a proper sequel.You can read an interview with Tom Holland about Fright Night 2: Resurrection: [Syfy] Tom Holland is 31,000 words into Fright Night 2: Resurrection, and yes, Evil Ed is back