This requires an index (from addresses to all transactions that affect it) which isn't necessary for normal operation.
It's currently not implemented, but adding it wouldn't be that hard. It's not a priority, though.
I think I would really like to use such a feature rather than relying on a 3rd party service such as blockchain.info (not that I don't trust them but basically because why should I waste the bandwidth when I already have the blockchain?).
I would be willing to put up 10 BTC towards this if that can motivate someone not already flat out to build this (payment would be made to the owner of the accepted pull request that achieves this).
Would you be interested in a command-line tool that would be able to get this info from any Electrum server? This is something I feel I would be able to deliver rather quickly.
And if you install an Electrum server on your own bitcoind installation, it would make the whole solution local. After all, an Electrum server is just an add-on to bitcoind that makes it easy to query through the Stratum/JSON protocol.