Yes. It's a very common thing, your body is paralised while you are sleeping so you don't sleepwalk and hurt yourself, but sometimes your mind wakes up before it wears off. It's probably the source of a great many alien/fairy abduction stories through the ages. It can be linked to dangerous sleep disorders or it can just happen but not mean anything bad.
Shhh! I was shown a very scary image of what 'sleep paralysis' may look like, and cannot erase it from my mind no matter how hard I try. I have had very real-feeling dreams that felt just like what you've described.