I used shoptimizer on my shop, and one of the thing it says is that Etsy's search results are based on relevance and freshness.
Here is the text:
Etsy's search results are based on relevance and freshness. The more you update your listings, the more likely they are to be shown higher in Etsy search results. If you've updated more than 50% of your listings in the last month, you'll get an “A”. Less than that and you'll need to update your listings to improve your grade.
So, what is freshness? Is it just changing the text in your listing, or is it renewing a listing.
I have had several cases where I get an order shortly after renewing a sold listing, so it seems that renewing helps.
Gary