Can you make the tick by turning the wheel back and forth by hand ? The noise transfers easily and since you can't listen with stethoscope on a rotating part it's easy to be fooled. Putting your hand on the CV joint while someone is rocking the wheel might be more telling. It might also be something lose in the parking brake drum or something making contact on rotation.

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1988 325is (purchased new) sold
2004 X5 3.0 2005 X3 2.5
2008 X5 3.0 (new to me)