It used to be at least in my experience that it was impossible for a new domain or website to outrank and older website.
But now I think google has changed its search algorithm. And I find that I can get a new 1 year old domain to rank for keywords on the first page where's before I had a hard time of getting a 1 year old domain and website to rank anywhere on the first page for keywords.
Google now says that domain age doesn't matter and that new domains and websites can rank just as good for keywords as older websites and domains.
And I'm now finding that to be true.
Older websites and domains tend to get indexed and ranked faster though than a newer domain or website.
Another proof that a newer domain and website can rank on first page of google search results.
I searched for something in google search results and this domain and website answerpail.com which is 1 year and 78 days old is ranking for that keyword on the first page of google at the very top.
So yes it's possible that a new domain and website can rank for keywords and show up on the first page of google.