Definitely! I just went to my site and created one just to be sure nothing had happened.
Go to Listings, click on Folders (far right in the green menu bar). When the Folder page opens click on Create Folder. Type in the name you want, give any description you may need to identify it. If you want the listings in that folder to have a certain color, select one of the colors and then click Save.
Once you have your folders you can move your listings into them by selecting the item, select the Folder and click on Move. That will do it.
Blessings,
BroJames