Local ultrafast spectroscopy is made possible by combining near-field scanning optical microscopy with ferritosecond pump-probe techniques. We describe the design of an ultrafast nearfield optical microscope with 250 fs temporal and 150 nm spatial resolution. The high performance of such an instrument allows us to measure spatiotemporal carrier transport in nanostructured materials, carrier dynamics in single nanostructures as well as inhomogeneities of nanostructured ensembles.