This review examines the use of continuous-variable spectroscopy techniques for investigating quantum coherence and light-matter interactions in semiconductor systems with ultrafast dynamics. Special emphasis is placed on multichannel homodyne detection as a powerful tool to measure the quantum coherence and the full density matrix of a polariton system. Observations, such as coherence times that exceed the nanosecond scale obtained by monitoring the temporal decay of quantum coherence in a polariton condensate, are discussed. Proof-of-concept experiments and numerical simulations that demonstrate the enhanced resourcefulness of the produced system states for modern quantum protocols are assessed. The combination of tailored resource quantifiers and ultrafast spectroscopy techniques that have recently been demonstrated paves the way for future applications of quantum information technologies.