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Why does domain age matter
Bigger link profile
The reason why aged domains are performing better in search engines ranking is that they have got some quality backlinks. Search engines examine backlinks of a website, and if the links are with sites that have authority and dominance, they are ranked better. The SEO work done in the past to create good quality backlinks is a big plus point for the website.
Some domains have established a good reputation in their market segment. It is a huge plus point, as establishing a new domain name and getting a good reputation takes time and effort. If you are lucky enough to buy a domain with an established reputation which is ranking well with search engines, you are off to a flying start. Some companies are spending heavily in establishing their reputation and trust in the internet market.
A well aged and established domain will be getting a fair amount of traffic. Getting regular traffic means the previous owner spent time and money on getting heavy traffic to the website. So if you were to invest in buying that domain, you wouldn't have to worry about getting traffic, as that will already be there. Yes, as the new owner you will have to worry about maintaining that level of traffic and increasing it.
Search Engine Ranking
What worries SEOs the most is getting a top ranking for their websites by search engines. If an aged domain has a good search engine ranking, it will save a lot of time and SEO effort. Remember it's not easy to set up a new website and expects to get a top ranking. Top ranking requires a lot of SEO effort, money and time. Getting a top ranking domain means immediate visibility and profit. Also, you are saving on a lot of SEO work.