Everton failed to end their 14-year winless run at Anfield, although they kept a five-point gap between themselves and Brendan Rodgers' sixth-placed side.
And skipper Gerrard admitted after the clash that although Liverpool played well, they failed to snatch the winning goal, which he said summed up their season.
"We all wanted it (a winning goal) for him (Carragher) but Everton have improved a lot," he told Sky Sports.
"They're a good team who are difficult to beat. I think that sums our season up in a way where we have played well but just lacked that cutting edged against the sides above us.
"We'll take a point, but we're disappointed it wasn't three."
The 32-year-old England international also insists the club will miss defender Carragher when he retires from football at the end of the season.
"You've seen his display today. I think we limited Everton to very few chances on goal and since he's been back in the team he's probably been our most consistent player," he added.
"I wouldn't like to be in Brendan Rodgers' shoes when he comes to try and replace him in the summer."