It's not just because of the spacing on the page. Dialogue, even in small doses, accelerates the pace rapidly, especially after coming out of long passages. Be conscious of its power and use it sparingly. Thus, like everything else, this is subjective. The vast majority of writers abuse dialogue, never stopping to consider they are disproportionately accelerating the pace.
Books can read too quickly.
One good way of monitoring your dialogue is looking to see how much you use in relation to the rest of the text. In other words, if you have one page of description and then twenty pages of dialogue, there may be a problem. Progression is slightly different than pacing. It's possible to have good pacing and poor progression. If a feeling of progression is lacking, it may be due to lack of progression in the plot, the characterization, or in any number of ways.