Is it normal to stop a conversation when the person just replies......

is it normal to stop a convo online when the other person just replies with 'lol' and that sort of stuff...

like i was just on fb chat with someone.. we're not really friends, just aquaintances... and we didnt really have that much to talk about, and i was on another site and was kind of distracted.. and this is kind of how the convo went;

other person; hey are you going to [ ]
me; yeah
why?
other person; i just saw your status
me; oh haha
yeah thats where im going next year
are you already going there?
or wait... ur in the grade below me. =P
other person; yeah im still in 8th grade
your a freshman right?
me; yupp
other person; why did you switch your high school?
me; i just didnt really like it at [ ]
i wanted to be at my home school
and see my old friends
other person; gotcha. [ ] is gonna be hella fun
me; i hope soo haha
other person; so how have you been?
me; ive been okk.. you?
other person; same. god we havent talked since like kindergarten!!
me; i know its been hella longg..
maybe we'll see each other at [ ]
other person; we probably will

and then i didnt really say anything back.. like what am i really supposed to say back to that? and i never really said byee or anything cuz it was just a quick chat..

im just wondering.. would that be considered awkward online? like usually if the convo seems like its over i just close out and ill talk to them later.