David Flitcroft felt Bury paid the price for profligacy in the first half as Luton struck an injury-time equaliser in a 1-1 draw.
After Danny Rose had put the visitors in front, home substitute Pelly Ruddock fired home late on to earn the Hatters a point.
Flitcroft said: "We controlled and dominated the home side really well. I thought our tempo was good, our quality was as good as I've seen it, but we've not let it slip in the last five minutes, we've let it slip in the first half.
"To completely dominate a team like Luton and not score the goals...the first half we got a lot of good interchanges and good quality, but we didn't hit the target enough, didn't have the last bit of quality.
"It's a tough place to come, Luton, and while you're on top of teams you need to really score and get up in terms of goals because 1-0 is a dangerous scoreline.
"The last 10 minutes they've thrown caution to the wind and bodies up front and caused us a problem."
Bury stole in front on 61 minutes as Nicky Adams' cross was not cut out by Steve McNulty and Rose nipped in to beat Mark Tyler.
However, Ruddock broke away to level matters in the dying stages and Luton could even have won it, as Ross Lafayette fired into Rob Lainton's gloves.
Hatters boss John Still was left ruing his side's poor defending in gifting Bury the opener.
He said: "The goal was too soft, it seemed such a soft goal. Maybe I haven't got the right picture in my head, but it was who's going to clear it, who's going to get it, and it just sort of rolled in.
"Take that out, we defended superbly; I was really, really pleased with how we defended.
"We'll keep improving and keep improving and we know know that we're strong and fit towards the end of games.
"To really push them back I felt a goal was coming and luckily it did come."