。
I think she's reached that village by now.
Literal
She [topic-は] around-this-time that village [at-に] has-arrived [quotative-と] think.
~と思う ('I think that...') is the everyday hedge for stating opinions or guesses — softer than asserting a flat fact. The quotative と packages the embedded clause as the content of thought; without it, ~と思う wouldn't compose. Note the embedded clause itself uses the resulting-state ~ている: 'has arrived,' not 'is arriving.' The demonstrative その ('that') refers to a village both speakers know about — one of the ko/so/a/do system's pragmatic uses, where そ marks something within shared discourse rather than visible in the room.