It used to be called the "sandbox" ... where new sites go before they get to start ranking well. Google has done away with that [supposedly].
Basically, Google factors in the age of a domain when it tries to determine how credible it is. There are so many fly-by-night companies nowadays, and domain names can be bought for a buck and change. Essentially, Google gives more weight to the domains that have been around since the 90s or early 2000s.
One site isn't going to rank over another because it's a few months older ... but a decade older, just maybe.
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