No, there is no way to sort the list. New parts get added to the end of the list, though, so the relatively infrequent times I got an upgrade it wasn't too hard to skip over the lower quality parts (I was fairly good at remembering to sell lower quality parts than what I was using, but parts can get added to your necromancer's list from a merchant's inventory).
Actually, being able to sort or hide lower level enchantment/potion formula would have been nice. An automatic setting would work, as well (sort parts by quality, and put the highest couple levels of the most used potion/enchantment formula at the top of the list, with lower levels available from a sub-menu, for times you may be short on ingredients).